Wheels Up Experience (NYSE:UP) Shares Gap Down – Here’s Why

Shares of Wheels Up Experience Inc. (NYSE:UP) gapped down before the market opened on Wednesday . The stock had previously closed at $1.27, but opened at $1.07. Wheels Up Experience shares last traded at $1.1050, with a volume of 2,016,437 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wheels Up Experience in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Wheels Up Experience has a consensus rating of “Sell”.

Wheels Up Experience Price Performance

The stock has a fifty day moving average of $1.87 and a 200 day moving average of $1.62. The stock has a market cap of $981.81 million, a price-to-earnings ratio of -2.75 and a beta of 2.30.

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

Insider Activity

In related news, Director Donald Lee Moak sold 43,166 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $3.11, for a total transaction of $134,246.26. Following the completion of the transaction, the director owned 180,431 shares of the company’s stock, valued at $561,140.41. This trade represents a 19.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian Joseph Kedzior sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $2.94, for a total transaction of $73,500.00. Following the completion of the sale, the insider directly owned 834,914 shares in the company, valued at approximately $2,454,647.16. The trade was a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 224,907 shares of company stock valued at $617,064 over the last quarter. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Wheels Up Experience

Several institutional investors and hedge funds have recently modified their holdings of UP. Vanguard Group Inc. raised its holdings in Wheels Up Experience by 9.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,614,924 shares of the company’s stock worth $6,651,000 after purchasing an additional 323,945 shares during the period. Unconventional Investor LLC purchased a new stake in shares of Wheels Up Experience in the third quarter valued at approximately $31,000. Valeo Financial Advisors LLC acquired a new position in shares of Wheels Up Experience during the 3rd quarter worth approximately $55,000. WealthShield Partners LLC purchased a new position in shares of Wheels Up Experience during the 3rd quarter valued at approximately $33,000. Finally, Rooted Wealth Advisors Inc. acquired a new stake in Wheels Up Experience in the 3rd quarter valued at $49,000. Hedge funds and other 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.