OLD National Bancorp IN Sells 836 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

OLD National Bancorp IN decreased its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 0.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 151,248 shares of the transportation company’s stock after selling 836 shares during the period. OLD National Bancorp IN’s holdings in United Airlines were worth $8,630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas bought a new stake in United Airlines during the 1st quarter valued at about $25,000. Fidelis Capital Partners LLC bought a new stake in shares of United Airlines in the 1st quarter valued at about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of United Airlines in the 2nd quarter valued at about $30,000. Armstrong Advisory Group Inc. bought a new stake in shares of United Airlines in the 3rd quarter valued at about $36,000. Finally, Crewe Advisors LLC bought a new stake in shares of United Airlines in the 1st quarter valued at about $32,000. Institutional investors own 69.69% of the company’s stock.

United Airlines Stock Performance

NASDAQ UAL traded up $0.82 on Friday, hitting $74.15. 8,399,423 shares of the company’s stock traded hands, compared to its average volume of 8,671,188. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 2.07. The firm’s 50-day moving average price is $51.38 and its two-hundred day moving average price is $49.71. United Airlines Holdings, Inc. has a 1-year low of $33.68 and a 1-year high of $74.95. The firm has a market capitalization of $24.38 billion, a PE ratio of 9.17, a P/E/G ratio of 0.94 and a beta of 1.44.

United Airlines (NASDAQ:UAL) last posted its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a net margin of 5.28% and a return on equity of 33.90%. The firm had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. During the same period in the previous year, the business posted $3.65 EPS. As a group, analysts expect that United Airlines Holdings, Inc. will post 9.88 EPS for the current year.

United Airlines declared that its board has initiated a stock repurchase plan on Tuesday, October 15th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the transportation company to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Jefferies Financial Group boosted their price target on shares of United Airlines from $69.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Bank of America boosted their price target on shares of United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a report on Thursday. Barclays lifted their price objective on shares of United Airlines from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Susquehanna lifted their price objective on shares of United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.51.

About United Airlines

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.