Wheels Up Experience (NYSE:UP) Shares Down 2.3% on Insider Selling

Wheels Up Experience Inc. (NYSE:UP) dropped 2.3% during mid-day trading on Friday following insider selling activity. The company traded as low as $1.07 and last traded at $1.09. Approximately 97,001 shares traded hands during trading, a decline of 90% from the average daily volume of 1,014,197 shares. The stock had previously closed at $1.11.

Specifically, CEO Mark Briffa sold 28,717 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1.06, for a total value of $30,440.02. Following the transaction, the chief executive officer now directly owns 1,090,971 shares of the company’s stock, valued at approximately $1,156,429.26. The trade was a 2.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wheels Up Experience Stock Performance

The stock has a 50 day moving average of $1.44 and a 200-day moving average of $1.86. The firm has a market capitalization of $764.20 million, a P/E ratio of -2.19 and a beta of 2.42.

Wheels Up Experience (NYSE:UP) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.09) earnings per share (EPS) for the quarter. Wheels Up Experience had a negative net margin of 39.97% and a negative return on equity of 796.67%. The firm had revenue of $204.82 million during the quarter.

Institutional Investors Weigh In On Wheels Up Experience

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its stake in Wheels Up Experience by 97.3% in the 4th quarter. Hsbc Holdings PLC now owns 21,775 shares of the company’s stock valued at $35,000 after acquiring an additional 10,740 shares during the period. Geode Capital Management LLC increased its position in shares of Wheels Up Experience by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,978,652 shares of the company’s stock valued at $3,266,000 after buying an additional 13,372 shares during the period. Barclays PLC increased its position in shares of Wheels Up Experience by 11.0% during the fourth quarter. Barclays PLC now owns 142,056 shares of the company’s stock valued at $234,000 after buying an additional 14,117 shares during the period. Wells Fargo & Company MN increased its position in shares of Wheels Up Experience by 49.6% during the fourth quarter. Wells Fargo & Company MN now owns 43,147 shares of the company’s stock valued at $71,000 after buying an additional 14,299 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of Wheels Up Experience during the third quarter valued at about $41,000. 98.20% of the stock is currently owned by institutional investors.

Wheels Up Experience Company Profile

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.