Wheels Up Experience Target of Unusually High Options Trading (NYSE:UP)

Wheels Up Experience Inc. (NYSE:UP) was the recipient of unusually large options trading on Wednesday. Investors bought 6,748 call options on the stock. This is an increase of 94% compared to the typical daily volume of 3,486 call options.

Wheels Up Experience Trading Down 13.0%

UP stock opened at $2.00 on Thursday. The stock has a 50-day moving average price of $1.95 and a 200-day moving average price of $1.46. Wheels Up Experience has a 1-year low of $0.74 and a 1-year high of $3.50. The firm has a market cap of $1.40 billion, a PE ratio of -4.26 and a beta of 2.41.

Wheels Up Experience (NYSE:UP) last issued its earnings results on Thursday, August 7th. The company reported ($0.11) EPS for the quarter. The company had revenue of $189.64 million during the quarter.

Insider Activity

In other Wheels Up Experience news, insider David Godsman sold 75,000 shares of Wheels Up Experience stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $2.83, for a total transaction of $212,250.00. Following the transaction, the insider directly owned 976,715 shares of the company’s stock, valued at approximately $2,764,103.45. The trade was a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David L. Holtz sold 36,318 shares of Wheels Up Experience stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $2.92, for a total value of $106,048.56. Following the transaction, the chief operating officer directly owned 954,254 shares in the company, valued at $2,786,421.68. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 224,907 shares of company stock worth $617,064. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of Wheels Up Experience

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in Wheels Up Experience by 10.7% in the 4th quarter. Northern Trust Corp now owns 840,804 shares of the company’s stock valued at $1,387,000 after buying an additional 81,293 shares in the last quarter. Jane Street Group LLC bought a new stake in Wheels Up Experience in the 2nd quarter valued at about $795,000. Marshall Wace LLP bought a new stake in Wheels Up Experience in the 2nd quarter valued at about $222,000. Y Intercept Hong Kong Ltd bought a new stake in Wheels Up Experience in the 2nd quarter valued at about $198,000. Finally, Brevan Howard Capital Management LP bought a new stake in Wheels Up Experience in the 2nd quarter valued at about $172,000. 98.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Wheels Up Experience from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th.

About Wheels Up Experience

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.