Wheels Up Experience (NYSE:UP) Issues Earnings Results

Wheels Up Experience (NYSE:UP) posted its earnings results on Thursday. The company reported ($2.48) earnings per share for the quarter, FiscalAI reports. The business had revenue of $164.79 million during the quarter.

Wheels Up Experience Stock Performance

Wheels Up Experience stock traded down $0.02 during midday trading on Friday, hitting $2.84. 182,068 shares of the company’s stock were exchanged, compared to its average volume of 82,874. The stock has a market cap of $103.04 million, a price-to-earnings ratio of -0.33 and a beta of 2.19. Wheels Up Experience has a 12-month low of $2.41 and a 12-month high of $29.33. The firm’s 50 day simple moving average is $3.58 and its 200 day simple moving average is $7.45.

Wall Street Analysts Forecast Growth

UP has been the topic of a number of research reports. Wall Street Zen lowered Wheels Up Experience from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wheels Up Experience in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Wheels Up Experience presently has a consensus rating of “Sell”.

Insider Buying and Selling

In related news, major shareholder Ck Wheels Llc sold 9,363 shares of Wheels Up Experience stock in a transaction on Monday, August 31st. The shares were sold at an average price of $4.61, for a total value of $43,163.43. Following the transaction, the insider directly owned 12,860,891 shares in the company, valued at $59,288,707.51. This trade represents a 0.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 14,644 shares of company stock worth $70,792. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wheels Up Experience

A number of institutional investors and hedge funds have recently modified their holdings of UP. WNY Asset Management LLC acquired a new stake in shares of Wheels Up Experience during the 1st quarter worth $39,000. J. Derek Lewis & Associates Inc. bought a new stake in Wheels Up Experience during the third quarter worth approximately $51,000. Cetera Investment Advisers lifted its holdings in shares of Wheels Up Experience by 34.1% in the first quarter. Cetera Investment Advisers now owns 179,603 shares of the company’s stock valued at $93,000 after buying an additional 45,661 shares during the period. Kore Advisors LP boosted its position in shares of Wheels Up Experience by 0.6% during the 1st quarter. Kore Advisors LP now owns 15,194,884 shares of the company’s stock valued at $7,848,000 after purchasing an additional 94,176 shares in the last quarter. Finally, Knighthead Capital Management LLC acquired a new position in Wheels Up Experience in the first quarter worth approximately $133,344,000. Institutional investors and hedge funds own 98.20% of the company’s stock.

Wheels Up Experience Company Profile

Wheels Up Experience Inc is an aviation company that provides private air travel services in the United States and select international markets. Through its Wheels Up brand, the company offers private jet and turboprop flights for individuals, families, businesses and other organizations.

The company’s services include private aviation memberships, on-demand charter flights and aircraft management. Members and charter customers can arrange flights through Wheels Up’s digital platform and service network, while aircraft owners can engage the company to manage the operation, staffing, maintenance and scheduling of their aircraft.

Wheels Up was founded in 2013 and expanded its platform through acquisitions and strategic relationships, including its 2019 acquisition of Delta Private Jets.