Wheels Up Experience (NYSE:UP) Trading 9.6% Higher – What’s Next?

Wheels Up Experience Inc. (NYSE:UP) shares shot up 9.6% during trading on Friday . The company traded as high as $0.6966 and last traded at $0.7140. 793,598 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 1,843,302 shares. The stock had previously closed at $0.6512.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UP. Weiss Ratings restated a “sell (d-)” rating on shares of Wheels Up Experience in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Wheels Up Experience from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Wheels Up Experience Stock Up 4.9%

The firm has a 50-day simple moving average of $0.82 and a 200 day simple moving average of $1.43. The company has a market cap of $492.93 million, a price-to-earnings ratio of -1.34 and a beta of 2.34.

Wheels Up Experience (NYSE:UP) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.12) earnings per share for the quarter. The firm had revenue of $185.49 million during the quarter.

Insiders Place Their Bets

In other news, insider Meaghan Danielle Wells sold 47,931 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $1.22, for a total value of $58,475.82. Following the completion of the sale, the insider directly owned 526,681 shares of the company’s stock, valued at approximately $642,550.82. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Briffa sold 86,813 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $1.23, for a total value of $106,779.99. Following the transaction, the insider directly owned 866,670 shares in the company, valued at approximately $1,066,004.10. This represents a 9.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Wheels Up Experience

Several hedge funds have recently modified their holdings of UP. AQR Capital Management LLC acquired a new position in Wheels Up Experience in the 1st quarter valued at $156,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Wheels Up Experience by 197.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,534 shares of the company’s stock worth $43,000 after acquiring an additional 26,917 shares during the period. CWM LLC increased its stake in shares of Wheels Up Experience by 77.0% during the second quarter. CWM LLC now owns 24,880 shares of the company’s stock worth $27,000 after acquiring an additional 10,827 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Wheels Up Experience during the second quarter worth about $198,000. Finally, Creative Planning acquired a new stake in Wheels Up Experience in the second quarter valued at about $25,000. 98.20% of the stock is owned by institutional investors and hedge funds.

About Wheels Up Experience

Wheels Up Experience Inc is a membership-driven private aviation company that provides on-demand charter flights and flight card services to corporate clients and high-net-worth individuals. The company operates a combination of owned and managed aircraft, including turboprops and light to midsize jets, and supplements its fleet through a network of partner operators. Its digital platform allows members to book flights, manage itineraries and access empty-leg opportunities with real-time pricing and availability.

Through tiered membership programs, Wheels Up offers flexible access to private air travel without the long-term commitments typically associated with fractional ownership.