Wheels Up Experience (NYSE:UP) Shares Gap Up – Should You Buy?

Wheels Up Experience Inc. (NYSE:UP) gapped up prior to trading on Monday . The stock had previously closed at $1.51, but opened at $1.58. Wheels Up Experience shares last traded at $1.55, with a volume of 55,153 shares trading hands.

Wheels Up Experience Stock Performance

The company has a market capitalization of $1.06 billion, a P/E ratio of -3.03 and a beta of 2.38. The business’s fifty day simple moving average is $1.20 and its 200-day simple moving average is $1.44.

Wheels Up Experience (NYSE:UP) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.11) EPS for the quarter. The company 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 Activity

In other news, CEO of Air Partner Mark Briffa sold 28,717 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1.06, for a total transaction of $30,440.02. Following the transaction, the insider now owns 1,090,971 shares of the company’s stock, valued at approximately $1,156,429.26. This represents a 2.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Wheels Up Experience

Several large investors have recently modified their holdings of UP. Hsbc Holdings PLC raised its stake in Wheels Up Experience by 97.3% in the fourth quarter. Hsbc Holdings PLC now owns 21,775 shares of the company’s stock worth $35,000 after buying an additional 10,740 shares in the last quarter. Byrne Asset Management LLC bought a new position in shares of Wheels Up Experience in the 1st quarter worth $27,000. EWA LLC bought a new position in shares of Wheels Up Experience in the 1st quarter worth $43,000. Wells Fargo & Company MN lifted its stake in shares of Wheels Up Experience by 49.6% during the 4th quarter. Wells Fargo & Company MN now owns 43,147 shares of the company’s stock worth $71,000 after purchasing an additional 14,299 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Wheels Up Experience by 110.7% during the fourth quarter. SG Americas Securities LLC now owns 48,527 shares of the company’s stock valued at $80,000 after purchasing an additional 25,495 shares in the last quarter. Institutional investors own 98.20% of the company’s stock.

Wheels Up Experience Company Profile

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.