BlackRock Fund Advisors recently announced the acquisition of new stake in Wheels Up Experience Inc. (NYSE:UP). The institutional investor has increased its shareholding in the Industrials company by 10.76% to 10.98 million shares with purchase of 1.07 million shares. This fresh investment now brings its stake to 4.44% valued currently at $12.19 million. In addition, The Vanguard Group, Inc. raised its holdings by 22230.0 to 8.74 million shares. And Geode Capital Management LLC has lifted its position by 3.46% or 0.1 million shares – to 3.06 million shares.
With over 2.01 million Wheels Up Experience Inc. (UP) shares trading Tuesday and a closing price of $0.92 on the day, the dollar volume was approximately $1.85 million. The shares have shown a negative half year performance of -47.29% and its price on 03/14/23 lost nearly -3.75%. Currently, there are 244.35M common shares owned by the public and among those 219.92M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for UP have a consensus price objective of $2.54. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $1.30. The average price target is 67.49% above its recent price level and an upside to the estimated low will see the stock gain 29.23% over that period. But an upside of 77.0% will see the stock hit the forecast high price target while median target price for the stock is $2.50.
Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 4,854,882 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 3,788,495 shares.
The top 3 mutual fund holders in Wheels Up Experience Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 5.23 million shares of the company’s stock, all valued at over $5.81 million. iShares Russell 2000 ETF sold 11196.0 shares to see its total holdings shrink to 3.54 million shares valued at over $3.92 million and representing 1.43% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 1.02% of the shares outstanding.
Shares of Wheels Up Experience Inc. (NYSE: UP) opened at $0.9999, up $0.04 from a prior closing price of $0.96. However, the script later moved the day high at 1.0200, down -3.75%. The company’s stock has a 5-day price change of -20.48% and -10.45% over the past three months. UP shares are trading -10.45% year to date (YTD), with the 12-month market performance down to -70.34% lower. It has a 12-month low price of $0.76 and touched a high of $3.48 over the same period. UP has an average intraday trading volume of 1.62 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -16.93%, -23.67%, and -43.52% respectively.
Institutional ownership of Wheels Up Experience Inc. (NYSE: UP) shares accounts for 52.30% of the company’s 244.35M shares outstanding. Mutual fund holders own 11.31%, while other institutional holders and individual stakeholders account for 17.02% and 10.72% respectively.
It has a market capitalization of $232.80M. The earnings-per-share (ttm) stands at -$2.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.93% over the week and 6.90% over the month.
Analysts forecast that Wheels Up Experience Inc. (UP) will achieve an EPS of -$0.31 for the current quarter, -$0.28 for the next quarter and -$1 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.4 while analysts give the company a high EPS estimate of -$0.26. Comparatively, EPS for the current quarter was -$0.22 a year ago. Earnings per share for the fiscal year are expected to increase by 36.40%, and 24.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Wheels Up Experience Inc. (UP) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 8 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the UP, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on June 15, 2022, with the firm’s price target at $5. Barrington Research was of a view on November 16, 2021 that the stock is Mkt Perform, while Morgan Stanley gave the stock Underweight rating on November 09, 2021, issuing a price target of $5.90. Credit Suisse on their part issued Outperform rating on October 01, 2021.
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