Comerica Bank Lowers Stock Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Comerica Bank reduced its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UALGet Rating) by 2.0% during the first quarter, Holdings Channel reports. The institutional investor owned 40,722 shares of the transportation company’s stock after selling 813 shares during the period. Comerica Bank’s holdings in United Airlines were worth $1,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Citizens National Bank Trust Department purchased a new position in United Airlines in the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC purchased a new position in United Airlines in the 4th quarter worth approximately $34,000. Wahed Invest LLC purchased a new position in United Airlines in the 4th quarter worth approximately $42,000. Gordian Capital Singapore Pte Ltd purchased a new position in United Airlines in the 4th quarter worth approximately $44,000. Finally, Capital Analysts LLC lifted its holdings in United Airlines by 188.2% in the 4th quarter. Capital Analysts LLC now owns 1,196 shares of the transportation company’s stock worth $52,000 after purchasing an additional 781 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

United Airlines Price Performance

Shares of UAL stock opened at $36.33 on Monday. United Airlines Holdings, Inc. has a twelve month low of $30.54 and a twelve month high of $54.52. The stock has a market capitalization of $11.87 billion, a price-to-earnings ratio of -9.59 and a beta of 1.32. The stock has a fifty day simple moving average of $40.29 and a two-hundred day simple moving average of $42.93. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 7.41.

United Airlines (NASDAQ:UALGet Rating) last issued its earnings results on Wednesday, July 20th. The transportation company reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.34). The firm had revenue of $12.11 billion during the quarter, compared to analysts’ expectations of $12.11 billion. United Airlines had a negative return on equity of 38.92% and a negative net margin of 3.43%. United Airlines’s quarterly revenue was up 121.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($3.91) earnings per share. On average, analysts predict that United Airlines Holdings, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on UAL. Morgan Stanley lifted their price objective on United Airlines from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, April 22nd. Barclays reduced their price objective on United Airlines from $58.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Friday, July 8th. Citigroup lifted their price objective on United Airlines from $58.00 to $71.00 in a research note on Monday, April 25th. Cowen reduced their price objective on United Airlines from $86.50 to $75.00 in a research note on Friday. Finally, Raymond James reduced their price objective on United Airlines from $62.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday, June 23rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.69.

Insider Buying and Selling

In related news, VP Chris Kenny sold 9,700 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $47.88, for a total transaction of $464,436.00. Following the completion of the sale, the vice president now directly owns 19,605 shares in the company, valued at approximately $938,687.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other United Airlines news, Director Edward Shapiro bought 50,000 shares of United Airlines stock in a transaction that occurred on Monday, June 13th. The shares were bought at an average cost of $37.69 per share, with a total value of $1,884,500.00. Following the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $3,769,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Chris Kenny sold 9,700 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $47.88, for a total value of $464,436.00. Following the transaction, the vice president now directly owns 19,605 shares in the company, valued at $938,687.40. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.

About United Airlines

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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, training, and maintenance services for third parties.

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Institutional Ownership by Quarter for United Airlines (NASDAQ:UAL)

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