Wheels Up Experience (NYSE:UP) Stock Price Down 5.7% – Here’s Why

Wheels Up Experience Inc. (NYSE:UP)’s stock price traded down 5.7% on Wednesday . The company traded as low as $1.58 and last traded at $1.57. 112,312 shares changed hands during trading, a decline of 89% from the average session volume of 1,063,246 shares. The stock had previously closed at $1.66.

Wheels Up Experience Stock Performance

The company’s fifty day moving average price is $1.12 and its 200-day moving average price is $1.49. The stock has a market cap of $1.06 billion, a P/E ratio of -3.03 and a beta of 2.35.

Wheels Up Experience (NYSE:UP) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.11) earnings per share (EPS) for the quarter. The firm had revenue of $177.53 million during the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 39.97%.

Insider Buying and Selling at Wheels Up Experience

In related news, CEO of Air Partner Mark Briffa sold 28,717 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1.06, for a total value of $30,440.02. Following the completion of the transaction, the insider now directly owns 1,090,971 shares in the company, valued at $1,156,429.26. The trade was a 2.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Wheels Up Experience

Large investors have recently added to or reduced their stakes in the stock. Byrne Asset Management LLC acquired a new position in Wheels Up Experience during the first quarter worth $27,000. Hsbc Holdings PLC raised its position in Wheels Up Experience by 97.3% during the fourth quarter. Hsbc Holdings PLC now owns 21,775 shares of the company’s stock worth $35,000 after acquiring an additional 10,740 shares during the period. EWA LLC purchased a new stake in shares of Wheels Up Experience during the first quarter worth $43,000. Wells Fargo & Company MN grew its holdings in shares of Wheels Up Experience by 49.6% during the fourth quarter. Wells Fargo & Company MN now owns 43,147 shares of the company’s stock worth $71,000 after buying an additional 14,299 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Wheels Up Experience by 69.0% during the first quarter. Deutsche Bank AG now owns 73,593 shares of the company’s stock worth $74,000 after buying an additional 30,058 shares in the last quarter. 98.20% of the stock is currently owned by institutional investors and hedge funds.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers Wheels Up Membership program that consists of two primary membership categories, such as Individual membership for individual and business fliers; and UP for Business membership consists of small and medium enterprise, and custom enterprise solutions for business fliers that tend to spend at higher levels.