Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in United Airlines Holdings, Inc. (NASDAQ:UAL) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,928 shares of the transportation company’s stock after purchasing an additional 982 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in United Airlines were worth $338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of UAL. BNP Paribas bought a new position in shares of United Airlines in the first quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new position in United Airlines during the first quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of United Airlines in the second quarter worth approximately $30,000. Crewe Advisors LLC purchased a new stake in shares of United Airlines in the first quarter worth $32,000. Finally, GoalVest Advisory LLC bought a new stake in shares of United Airlines during the 1st quarter valued at $33,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other United Airlines news, EVP Torbjorn J. Enqvist sold 14,500 shares of United Airlines stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,427 shares of the company’s stock, valued at $2,190,744. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

United Airlines Stock Performance

United Airlines stock opened at $74.49 on Wednesday. The company’s 50-day moving average price is $52.72 and its 200-day moving average price is $50.18. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The company has a market cap of $24.49 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 0.98 and a beta of 1.44. United Airlines Holdings, Inc. has a twelve month low of $33.68 and a twelve month high of $74.96.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.23. The company had revenue of $14.84 billion for the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same period in the previous year, the firm posted $3.65 earnings per share. On average, equities research analysts forecast that United Airlines Holdings, Inc. will post 10.05 EPS for the current fiscal year.

United Airlines announced that its Board of Directors has initiated a share buyback program on Tuesday, October 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the transportation company to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UAL. Barclays upped their target price on shares of United Airlines from $66.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. TD Cowen increased their target price on United Airlines from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Bank of America lifted their target price on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Susquehanna increased their price objective on shares of United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Finally, Morgan Stanley boosted their target price on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.94.

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.