Wheels Up Experience (NYSE:UP) Shares Down 4.9% – Here’s What Happened

Shares of Wheels Up Experience Inc. (NYSE:UP) were down 4.9% during trading on Thursday . The company traded as low as $1.07 and last traded at $1.07. Approximately 126,385 shares traded hands during trading, a decline of 87% from the average daily volume of 1,010,042 shares. The stock had previously closed at $1.12.

Wheels Up Experience Price Performance

The company’s 50-day simple moving average is $1.40 and its two-hundred day simple moving average is $1.84. The firm has a market capitalization of $750.25 million, a P/E ratio of -2.15 and a beta of 2.42.

Wheels Up Experience (NYSE:UP) last announced its earnings results on Tuesday, March 11th. The company reported ($0.09) EPS for the quarter. The company had revenue of $204.82 million during the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 39.97%.

Insider Activity

In related news, CEO of Air Partner Mark Briffa sold 28,717 shares of Wheels Up Experience stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1.06, for a total transaction of $30,440.02. Following the transaction, the insider now owns 1,090,971 shares in the company, valued at approximately $1,156,429.26. The trade was a 2.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Wheels Up Experience

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC bought a new stake in shares of Wheels Up Experience during the third quarter valued at approximately $88,000. Charles Schwab Investment Management Inc. increased its holdings in Wheels Up Experience by 277.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 796,827 shares of the company’s stock valued at $1,928,000 after acquiring an additional 585,589 shares during the last quarter. Stifel Financial Corp bought a new stake in Wheels Up Experience in the 3rd quarter valued at $41,000. State Street Corp boosted its holdings in shares of Wheels Up Experience by 41.9% during the 3rd quarter. State Street Corp now owns 1,322,891 shares of the company’s stock valued at $3,201,000 after purchasing an additional 390,414 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Wheels Up Experience by 320.8% during the third quarter. Barclays PLC now owns 127,939 shares of the company’s stock valued at $309,000 after purchasing an additional 97,532 shares in the last quarter. 98.20% of the stock is owned by 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.