Envestnet Asset Management Inc. Increases Holdings in United Airlines Holdings, Inc. (NASDAQ:UAL)

Envestnet Asset Management Inc. raised its stake in United Airlines Holdings, Inc. (NASDAQ:UAL) by 88.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,309 shares of the transportation company’s stock after purchasing an additional 104,989 shares during the period. Envestnet Asset Management Inc.’s holdings in United Airlines were worth $21,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of UAL. Proficio Capital Partners LLC purchased a new stake in United Airlines in the fourth quarter valued at about $137,000. Longbow Finance SA acquired a new stake in United Airlines in the 4th quarter worth approximately $9,359,000. KBC Group NV purchased a new stake in United Airlines during the 4th quarter worth approximately $485,000. Bleakley Financial Group LLC increased its stake in United Airlines by 293.7% during the 4th quarter. Bleakley Financial Group LLC now owns 23,458 shares of the transportation company’s stock valued at $2,278,000 after purchasing an additional 17,499 shares in the last quarter. Finally, Islay Capital Management LLC acquired a new stake in shares of United Airlines during the fourth quarter worth $790,000. 69.69% of the stock is owned by hedge funds and other institutional investors.

United Airlines Stock Up 0.1 %

Shares of NASDAQ:UAL opened at $65.69 on Tuesday. The business has a fifty day moving average of $82.35 and a two-hundred day moving average of $87.47. The stock has a market cap of $21.50 billion, a P/E ratio of 6.97, a PEG ratio of 0.67 and a beta of 1.19. United Airlines Holdings, Inc. has a 52-week low of $37.02 and a 52-week high of $116.00. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 1.99.

United Airlines (NASDAQ:UAL) last released its quarterly earnings data on Tuesday, January 21st. The transportation company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.30. The business had revenue of $14.70 billion during the quarter, compared to analysts’ expectations of $14.40 billion. United Airlines had a return on equity of 32.26% and a net margin of 5.52%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.00 EPS. On average, research analysts expect that United Airlines Holdings, Inc. will post 12.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on UAL. Evercore ISI reduced their target price on United Airlines from $145.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Jefferies Financial Group decreased their price objective on shares of United Airlines from $154.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Barclays reduced their target price on shares of United Airlines from $140.00 to $94.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. upped their target price on United Airlines from $108.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Finally, Morgan Stanley upped their price objective on United Airlines from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.01.

United Airlines Profile

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.