Assenagon Asset Management S.A. Has $75.57 Million Stake in United Airlines Holdings, Inc. (NASDAQ:UAL)

Assenagon Asset Management S.A. lifted its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 177.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,324,398 shares of the transportation company’s stock after acquiring an additional 847,348 shares during the period. Assenagon Asset Management S.A. owned 0.40% of United Airlines worth $75,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BNP Paribas acquired a new position in shares of United Airlines during the first quarter valued at about $25,000. Fidelis Capital Partners LLC acquired a new stake in United Airlines in the first quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in United Airlines in the second quarter valued at approximately $30,000. Crewe Advisors LLC acquired a new position in shares of United Airlines during the first quarter worth approximately $32,000. Finally, GoalVest Advisory LLC bought a new position in shares of United Airlines in the 1st quarter worth $33,000. 69.69% of the stock is owned by institutional investors.

Insider Activity at United Airlines

In other United Airlines news, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the completion of the transaction, the executive vice president now owns 30,427 shares in the company, valued at $2,190,744. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.63% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen raised their price objective on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley raised their price target on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein increased their price objective on United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their target price on United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays increased their price target on United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.94.

United Airlines Stock Performance

Shares of United Airlines stock traded up $0.17 on Thursday, reaching $73.62. 3,557,083 shares of the company traded hands, compared to its average volume of 8,615,583. The company has a 50 day moving average of $53.39 and a 200 day moving average of $50.35. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72. United Airlines Holdings, Inc. has a 52 week low of $33.68 and a 52 week high of $75.41. The firm has a market capitalization of $24.21 billion, a PE ratio of 8.94, a PEG ratio of 0.89 and a beta of 1.44.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. The business had revenue of $14.84 billion during the quarter, compared to analyst estimates of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same period in the prior year, the company earned $3.65 earnings per share. Equities analysts forecast that United Airlines Holdings, Inc. will post 10.18 earnings per share for the current year.

United Airlines declared that its board has authorized a share buyback plan on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to buy up to 7.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

About United Airlines

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.