Wheels Up Experience (NYSE:UP) Stock Price Down 5.7% – Here’s What Happened

Shares of Wheels Up Experience Inc. (NYSE:UP) dropped 5.7% on Wednesday . The stock traded as low as $1.58 and last traded at $1.57. Approximately 112,312 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,063,246 shares. The stock had previously closed at $1.66.

Wheels Up Experience Price Performance

The stock has a market cap of $842.04 million, a PE ratio of -2.41 and a beta of 2.35. The company has a 50 day moving average price of $1.13 and a two-hundred day moving average price of $1.48.

Wheels Up Experience (NYSE:UP) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.11) EPS for the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 39.97%. The firm had revenue of $177.53 million during the quarter.

Insider Buying and Selling at Wheels Up Experience

In other Wheels Up Experience news, CEO of Air Partner Mark Briffa sold 28,717 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1.06, for a total transaction of $30,440.02. Following the completion of the sale, the insider now owns 1,090,971 shares of the company’s stock, valued at approximately $1,156,429.26. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Wheels Up Experience

Hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new stake in Wheels Up Experience during the fourth quarter valued at about $115,000. Wells Fargo & Company MN grew its holdings in Wheels Up Experience by 49.6% during the fourth quarter. Wells Fargo & Company MN now owns 43,147 shares of the company’s stock valued at $71,000 after purchasing an additional 14,299 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Wheels Up Experience by 48,303.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 75,025 shares of the company’s stock valued at $119,000 after purchasing an additional 74,870 shares during the period. First Trust Advisors LP bought a new stake in Wheels Up Experience during the fourth quarter valued at about $1,264,000. Finally, Corient Private Wealth LLC bought a new stake in Wheels Up Experience during the fourth quarter valued at about $339,000. Institutional investors own 98.20% of the company’s stock.

About Wheels Up Experience

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.