Wheels Up Experience (NYSE:UP) Shares Up 10.1% – Here’s What Happened

Wheels Up Experience Inc. (NYSE:UP) was up 10.1% on Tuesday . The stock traded as high as $0.7386 and last traded at $0.7340. Approximately 938,702 shares traded hands during trading, a decline of 71% from the average daily volume of 3,220,056 shares. The stock had previously closed at $0.6665.

Wall Street Analysts Forecast Growth

UP has been the subject of a number of analyst reports. 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Wheels Up Experience in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Wheels Up Experience Trading Up 1.1%

The stock’s 50 day moving average price is $1.23 and its two-hundred day moving average price is $1.54. The firm has a market capitalization of $577.51 million, a price-to-earnings ratio of -1.57 and a beta of 2.33.

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

Insider Buying and Selling

In other Wheels Up Experience news, insider Meaghan Danielle Wells sold 47,931 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $1.22, for a total value of $58,475.82. Following the sale, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Briffa sold 86,813 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $1.23, for a total value of $106,779.99. Following the completion of the transaction, the insider owned 866,670 shares of the company’s stock, 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. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC acquired a new stake in shares of Wheels Up Experience during the 3rd quarter worth about $25,000. Creative Planning purchased a new position in shares of Wheels Up Experience during the second quarter valued at approximately $25,000. Hudson Bay Capital Management LP acquired a new stake in Wheels Up Experience during the second quarter worth approximately $25,000. CWM LLC grew its stake in Wheels Up Experience by 77.0% in the 2nd 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. Finally, Beck Mack & Oliver LLC acquired a new position in Wheels Up Experience in the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 98.20% of the company’s stock.

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.