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

Wheels Up Experience Inc. (NYSE:UP) 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on UP shares. Wall Street Zen downgraded Wheels Up Experience from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Wheels Up Experience in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Wheels Up Experience Stock Down 1.9%

The stock has a market cap of $497.98 million, a price-to-earnings ratio of -1.36 and a beta of 2.34. The stock has a fifty day moving average of $1.21 and a two-hundred day moving average of $1.54.

Wheels Up Experience (NYSE:UP) last issued its 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 at Wheels Up Experience

In related news, insider Meaghan Danielle Wells sold 47,931 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 526,681 shares in the company, valued at approximately $642,550.82. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Briffa sold 86,813 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $1.23, for a total value of $106,779.99. Following the completion of the transaction, the insider owned 866,670 shares of the company’s stock, valued at $1,066,004.10. This trade represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Wheels Up Experience

A number of institutional investors and hedge funds have recently modified their holdings of UP. Deutsche Bank AG boosted its stake in Wheels Up Experience by 69.0% in the first quarter. Deutsche Bank AG now owns 73,593 shares of the company’s stock valued at $74,000 after acquiring an additional 30,058 shares during the period. Nuveen LLC acquired a new stake in shares of Wheels Up Experience in the 1st quarter worth about $148,000. AQR Capital Management LLC bought a new stake in Wheels Up Experience in the 1st quarter valued at about $156,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Wheels Up Experience by 197.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,534 shares of the company’s stock valued at $43,000 after purchasing an additional 26,917 shares during the period. Finally, CWM LLC raised its holdings 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. 98.20% of the stock is owned by institutional investors and hedge funds.

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.