Wheels Up Experience (NYSE:UP) Shares Up 1.1%

Wheels Up Experience Inc. (NYSE:UPGet Rating)’s share price shot up 1.1% during mid-day trading on Thursday . The company traded as high as $2.39 and last traded at $2.38. 53,284 shares traded hands during trading, a decline of 98% from the average session volume of 2,268,725 shares. The stock had previously closed at $2.35.

A number of brokerages recently issued reports on UP. The Goldman Sachs Group began coverage on shares of Wheels Up Experience in a research report on Wednesday. They set a “buy” rating and a $5.00 target price for the company. Raymond James lowered their price objective on shares of Wheels Up Experience from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, March 11th. Credit Suisse Group lowered their price objective on shares of Wheels Up Experience from $11.00 to $8.50 and set an “outperform” rating for the company in a research report on Friday, March 11th. Wolfe Research started coverage on shares of Wheels Up Experience in a research report on Wednesday, February 16th. They issued a “hold” rating for the company. Finally, BTIG Research lowered their price objective on shares of Wheels Up Experience from $7.00 to $5.50 in a research report on Friday, May 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.99.

The firm’s 50 day moving average is $2.72 and its two-hundred day moving average is $3.43.

Wheels Up Experience (NYSE:UPGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.02. The firm had revenue of $325.64 million for the quarter, compared to the consensus estimate of $300.04 million. Equities analysts anticipate that Wheels Up Experience Inc. will post -1.21 earnings per share for the current year.

In other Wheels Up Experience news, Director David J. Adelman acquired 250,000 shares of the stock in a transaction dated Wednesday, June 1st. The shares were bought at an average cost of $2.60 per share, for a total transaction of $650,000.00. Following the completion of the acquisition, the director now directly owns 850,000 shares of the company’s stock, valued at $2,210,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.20% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of UP. Advisor Group Holdings Inc. acquired a new position in Wheels Up Experience during the third quarter worth $89,000. BlackRock Inc. bought a new position in Wheels Up Experience during the third quarter worth $15,205,000. Citigroup Inc. bought a new position in Wheels Up Experience during the third quarter worth $138,000. Goldman Sachs Group Inc. bought a new position in Wheels Up Experience during the third quarter worth $567,000. Finally, Geode Capital Management LLC bought a new position in Wheels Up Experience during the third quarter worth $9,485,000. Institutional investors and hedge funds own 56.08% of the company’s stock.

Wheels Up Experience Company Profile (NYSE:UP)

Wheels Up Experience Inc provides private aviation services primarily in the United States. The company offers a suite of products and services, which include multi-tiered membership programs, on-demand flights across various private aircraft cabin categories, aircraft management, retail and wholesale charter, whole aircraft acquisitions and sales, corporate flight solutions, special missions, signature events and experiences, and commercial travel.

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