Wheels Up Experience (NYSE:UP) Trading Up 11.9% – Here’s What Happened

Shares of Wheels Up Experience Inc. (NYSE:UP) were up 11.9% during mid-day trading on Wednesday . The stock traded as high as $0.75 and last traded at $0.7390. Approximately 1,715,941 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 3,193,412 shares. The stock had previously closed at $0.6603.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Wheels Up Experience in a research report on Wednesday, October 8th. Wall Street Zen lowered Wheels Up Experience from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Wheels Up Experience Price Performance

The firm’s 50-day simple moving average is $1.50 and its 200 day simple moving average is $1.61. The firm has a market capitalization of $562.93 million, a price-to-earnings ratio of -1.53 and a beta of 2.30.

Wheels Up Experience (NYSE:UP) last issued its earnings results on Wednesday, November 5th. The company reported ($0.12) earnings per share for the quarter. The business had revenue of $185.49 million during the quarter.

Insider Activity

In other news, insider Meaghan Danielle Wells sold 47,931 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $1.22, for a total value of $58,475.82. Following the completion of the transaction, the insider owned 526,681 shares of the company’s stock, valued at approximately $642,550.82. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Briffa sold 86,813 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $1.23, for a total transaction of $106,779.99. Following the completion of the sale, the insider owned 866,670 shares in the company, valued at approximately $1,066,004.10. The trade was a 9.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 144,648 shares of company stock valued at $186,847. Insiders own 0.15% of the company’s stock.

Institutional Trading of Wheels Up Experience

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Private Wealth Services LLC bought a new position in shares of Wheels Up Experience in the 3rd quarter valued at $25,000. Creative Planning bought a new stake in Wheels Up Experience during the 2nd quarter worth $25,000. Hudson Bay Capital Management LP bought a new position in Wheels Up Experience in the second quarter valued at about $25,000. CWM LLC boosted its stake in shares of Wheels Up Experience by 77.0% during the second quarter. CWM LLC now owns 24,880 shares of the company’s stock valued at $27,000 after purchasing an additional 10,827 shares in the last quarter. Finally, Beck Mack & Oliver LLC bought a new stake in shares of Wheels Up Experience during the second quarter worth about $27,000. 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.