Wheels Up Experience (NYSE:UP) Stock Falls 3.1% – Should You Sell?

Wheels Up Experience Inc. (NYSE:UP) fell 3.1% on Monday. The stock traded as low as $3.08 and last traded at $3.10. 42,373 shares traded hands during trading, a decline of 53% from the average session volume of 90,876 shares. The stock had previously closed at $3.20.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UP. Wall Street Zen lowered Wheels Up Experience from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wheels Up Experience in a research note on Thursday, August 27th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Wheels Up Experience presently has an average rating of “Sell”.

Wheels Up Experience Trading Up 2.3%

The company’s 50 day moving average price is $3.89 and its 200-day moving average price is $8.06. The company has a market capitalization of $111.73 million, a PE ratio of -0.36 and a beta of 2.19.

Wheels Up Experience (NYSE:UP) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($2.97) EPS for the quarter. The firm had revenue of $182.00 million during the quarter.

Insiders Place Their Bets

In other Wheels Up Experience news, major shareholder Ck Wheels Llc sold 9,363 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $4.61, for a total transaction of $43,163.43. Following the completion of the sale, the insider directly owned 12,860,891 shares in the company, valued at $59,288,707.51. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 14,644 shares of company stock worth $70,792 over the last 90 days. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Wheels Up Experience

Several large investors have recently made changes to their positions in UP. WNY Asset Management LLC purchased a new stake in Wheels Up Experience during the 1st quarter worth $39,000. Knighthead Capital Management LLC purchased a new position in Wheels Up Experience in the first quarter valued at about $133,344,000. Cetera Investment Advisers raised its position in Wheels Up Experience by 34.1% in the first quarter. Cetera Investment Advisers now owns 179,603 shares of the company’s stock valued at $93,000 after purchasing an additional 45,661 shares during the period. Kore Advisors LP raised its position in Wheels Up Experience by 0.6% in the first quarter. Kore Advisors LP now owns 15,194,884 shares of the company’s stock valued at $7,848,000 after purchasing an additional 94,176 shares during the period. Finally, Inspire Investing LLC lifted its stake in shares of Wheels Up Experience by 35.9% during the first quarter. Inspire Investing LLC now owns 1,061,623 shares of the company’s stock worth $548,000 after purchasing an additional 280,705 shares in the last quarter. Institutional investors and hedge funds own 98.20% of the company’s stock.

Wheels Up Experience Company Profile

Wheels Up Experience Inc is an aviation company that provides private air travel services in the United States and select international markets. Through its Wheels Up brand, the company offers private jet and turboprop flights for individuals, families, businesses and other organizations.

The company’s services include private aviation memberships, on-demand charter flights and aircraft management. Members and charter customers can arrange flights through Wheels Up’s digital platform and service network, while aircraft owners can engage the company to manage the operation, staffing, maintenance and scheduling of their aircraft.

Wheels Up was founded in 2013 and expanded its platform through acquisitions and strategic relationships, including its 2019 acquisition of Delta Private Jets.