Wheels Up Experience (NYSE:UP) Releases Earnings Results

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

Wheels Up Experience Price Performance

Shares of NYSE:UP traded down $0.23 during mid-day trading on Friday, hitting $2.63. The company had a trading volume of 61,092 shares, compared to its average volume of 159,264. Wheels Up Experience has a one year low of $2.63 and a one year high of $29.33. The firm has a fifty day moving average price of $3.62 and a 200 day moving average price of $7.53. The company has a market capitalization of $95.59 million, a PE ratio of -0.31 and a beta of 2.19.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wall Street Zen cut shares of Wheels Up Experience from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Wheels Up Experience in a research note on Thursday, August 27th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has an average rating of “Sell”.

Insider Transactions at Wheels Up Experience

In other Wheels Up Experience news, major shareholder Ck Wheels Llc sold 9,363 shares of the firm’s 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 completion of the sale, the insider directly owned 12,860,891 shares in the company, valued at approximately $59,288,707.51. This trade represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 14,644 shares of company stock worth $70,792 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wheels Up Experience

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