Clear Harbor Asset Management LLC Reduces Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Clear Harbor Asset Management LLC reduced its position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,923 shares of the transportation company’s stock after selling 1,183 shares during the period. Clear Harbor Asset Management LLC’s holdings in United Airlines were worth $1,643,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Castle Hook Partners LP boosted its holdings in shares of United Airlines by 176.1% in the third quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock valued at $242,227,000 after acquiring an additional 2,707,442 shares during the period. Point72 Asset Management L.P. grew its position in United Airlines by 489.2% during the second quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock worth $111,687,000 after buying an additional 1,905,664 shares during the period. Rubric Capital Management LP acquired a new stake in shares of United Airlines in the 3rd quarter worth approximately $63,486,000. Sanders Capital LLC increased its position in shares of United Airlines by 12.4% in the third quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock valued at $539,650,000 after buying an additional 1,040,589 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in United Airlines by 41.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock worth $177,604,000 after acquiring an additional 908,558 shares during the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Melius Research upgraded shares of United Airlines to a “strong-buy” rating in a research report on Monday, December 2nd. Bank of America boosted their price target on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. UBS Group boosted their target price on shares of United Airlines from $139.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Dbs Bank upgraded shares of United Airlines from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Barclays upped their price objective on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $106.45.

United Airlines Stock Up 1.2 %

Shares of NASDAQ:UAL opened at $107.38 on Tuesday. The company has a 50 day moving average of $97.73 and a two-hundred day moving average of $69.38. United Airlines Holdings, Inc. has a 52-week low of $37.02 and a 52-week high of $110.92. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The company has a market capitalization of $35.32 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44.

United Airlines announced that its board has authorized a share buyback plan on Tuesday, October 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at United Airlines

In other United Airlines news, EVP Linda P. Jojo sold 60,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the sale, the executive vice president now directly owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. This represents a 48.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kate Gebo sold 17,500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the sale, the executive vice president now owns 40,012 shares in the company, valued at approximately $3,218,565.28. This trade represents a 30.43 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

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.