Wheels Up Experience (NYSE:UP) Trading 3.9% Higher – Here’s Why

Shares of Wheels Up Experience Inc. (NYSE:UP) rose 3.9% on Tuesday . The company traded as high as $0.9616 and last traded at $0.9660. Approximately 853,480 shares traded hands during trading, a decline of 73% from the average daily volume of 3,167,802 shares. The stock had previously closed at $0.9301.

Analyst Upgrades and Downgrades

A number of research firms have commented 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 data from MarketBeat, the company currently has a consensus rating of “Sell”.

Wheels Up Experience Stock Performance

The stock has a market cap of $739.75 million, a PE ratio of -2.01 and a beta of 2.30. The stock has a fifty day moving average price of $1.72 and a 200 day moving average price of $1.64.

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

Insider Buying and Selling

In other Wheels Up Experience news, insider David Godsman sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $2.83, for a total value of $212,250.00. Following the completion of the sale, the insider owned 976,715 shares of the company’s stock, valued at $2,764,103.45. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Briffa sold 86,813 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $1.23, for a total value of $106,779.99. Following the completion of the sale, the insider owned 866,670 shares in the company, valued at approximately $1,066,004.10. The trade was a 9.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 335,692 shares of company stock worth $747,340 over the last three months. 0.15% of the stock is currently owned by company insiders.

Institutional Trading of Wheels Up Experience

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in shares of Wheels Up Experience in the second quarter worth about $795,000. Militia Capital Partners LP purchased a new stake in Wheels Up Experience in the 3rd quarter valued at about $644,000. Vanguard Group Inc. grew its stake in Wheels Up Experience by 9.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,614,924 shares of the company’s stock worth $6,651,000 after acquiring an additional 323,945 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Wheels Up Experience during the third quarter worth approximately $463,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Wheels Up Experience by 350.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 305,419 shares of the company’s stock valued at $562,000 after acquiring an additional 237,639 shares in the last quarter. 98.20% of the stock is owned by hedge funds and other institutional investors.

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.