Wheels Up Experience (NYSE:UP) Trading Down 6.2%

Wheels Up Experience Inc. (NYSE:UP)’s share price fell 6.2% during mid-day trading on Friday . The company traded as low as $2.68 and last traded at $2.70. 45,512 shares were traded during trading, a decline of 95% from the average session volume of 842,440 shares. The stock had previously closed at $2.88.

Wheels Up Experience Stock Down 7.6 %

The company has a current ratio of 0.48, a quick ratio of 0.45 and a debt-to-equity ratio of 2.41. The stock’s 50-day moving average is $2.95 and its 200-day moving average is $2.62. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -0.19 and a beta of 2.21.

Wheels Up Experience (NYSE:UP) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($2.60) by $2.47. Wheels Up Experience had a negative net margin of 38.89% and a negative return on equity of 291.29%. The firm had revenue of $246.38 million for the quarter.

Insider Transactions at Wheels Up Experience

In other news, insider Laura Heltebran sold 28,413 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $2.54, for a total value of $72,169.02. Following the completion of the sale, the insider now owns 37,707 shares in the company, valued at approximately $95,775.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Wheels Up Experience

Several institutional investors have recently added to or reduced their stakes in UP. Knighthead Capital Management LLC bought a new position in Wheels Up Experience during the third quarter valued at about $125,365,000. Kore Advisors LP purchased a new stake in Wheels Up Experience during the fourth quarter valued at about $88,552,000. Goldman Sachs Group Inc. lifted its holdings in Wheels Up Experience by 8,413.8% during the first quarter. Goldman Sachs Group Inc. now owns 8,069,177 shares of the company’s stock valued at $25,095,000 after purchasing an additional 7,974,399 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Wheels Up Experience by 147.3% during the first quarter. Vanguard Group Inc. now owns 8,021,225 shares of the company’s stock valued at $24,946,000 after purchasing an additional 4,777,527 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Wheels Up Experience by 19.9% during the third quarter. BlackRock Inc. now owns 13,103,773 shares of the company’s stock valued at $15,068,000 after purchasing an additional 2,173,061 shares during the last quarter. Institutional investors own 98.20% of the company’s stock.

About Wheels Up Experience

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.