Wheels Up Experience (NYSE:UP) Shares Gap Up – Should You Buy?

Wheels Up Experience Inc. (NYSE:UP)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $0.80, but opened at $0.84. Wheels Up Experience shares last traded at $0.80, with a volume of 30,505 shares trading hands.

Wheels Up Experience Price Performance

The company has a market capitalization of $557.64 million, a price-to-earnings ratio of -1.60 and a beta of 2.39. The stock has a 50 day simple moving average of $1.16 and a two-hundred day simple moving average of $1.70.

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

Insider Transactions at Wheels Up Experience

In related news, CEO of Air Partner Mark Briffa sold 28,717 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1.06, for a total transaction of $30,440.02. Following the transaction, the insider now owns 1,090,971 shares of the company’s stock, valued at $1,156,429.26. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Wheels Up Experience

Several hedge funds have recently modified their holdings of UP. Stifel Financial Corp purchased a new stake in shares of Wheels Up Experience during the 3rd quarter worth $41,000. Hsbc Holdings PLC boosted its stake in shares of Wheels Up Experience by 97.3% during the 4th quarter. Hsbc Holdings PLC now owns 21,775 shares of the company’s stock worth $35,000 after acquiring an additional 10,740 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Wheels Up Experience by 49.6% in the 4th quarter. Wells Fargo & Company MN now owns 43,147 shares of the company’s stock worth $71,000 after acquiring an additional 14,299 shares during the period. SG Americas Securities LLC increased its stake in Wheels Up Experience by 110.7% in the 4th quarter. SG Americas Securities LLC now owns 48,527 shares of the company’s stock valued at $80,000 after purchasing an additional 25,495 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in Wheels Up Experience during the fourth quarter worth $110,000. 98.20% of the stock is owned by institutional investors and hedge funds.

Wheels Up Experience Company Profile

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.