Wheels Up Experience (NYSE:UP) Shares Gap Up – Still a Buy?

Wheels Up Experience Inc. (NYSE:UP)’s share price gapped up before the market opened on Monday . The stock had previously closed at $0.7032, but opened at $0.74. Wheels Up Experience shares last traded at $0.6860, with a volume of 141,818 shares traded.

Analyst Ratings Changes

Several research firms have recently weighed in on UP. Weiss Ratings reissued a “sell (d-)” rating on shares of Wheels Up Experience in a research report on Wednesday, October 8th. Wall Street Zen cut Wheels Up Experience from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Wheels Up Experience currently has an average rating of “Sell”.

Wheels Up Experience Trading Up 3.7%

The company has a market cap of $501.59 million, a P/E ratio of -1.36 and a beta of 2.33. The stock’s 50-day moving average price is $1.15 and its 200-day moving average price is $1.53.

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

Insider Buying and Selling

In other Wheels Up Experience news, insider Mark Briffa sold 86,813 shares of the company’s stock in a transaction 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 transaction, the insider owned 866,670 shares in the company, valued at approximately $1,066,004.10. This represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Meaghan Danielle Wells sold 47,931 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $1.22, for a total transaction of $58,475.82. Following the completion of the transaction, the insider directly owned 526,681 shares in the company, valued at $642,550.82. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wheels Up Experience

Institutional investors and hedge funds have recently made changes to their positions in the business. Kestra Private Wealth Services LLC acquired a new position in Wheels Up Experience during the 3rd quarter valued at about $25,000. Creative Planning bought a new position in shares of Wheels Up Experience in the second quarter valued at approximately $25,000. Hudson Bay Capital Management LP bought a new position in shares of Wheels Up Experience in the second quarter valued at approximately $25,000. CWM LLC boosted its position 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 buying an additional 10,827 shares during the last quarter. Finally, Beck Mack & Oliver LLC bought a new stake in Wheels Up Experience during the second quarter worth $27,000. Institutional investors and hedge funds 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.