Magnetar Financial LLC Sells 20,492 Shares of United Continental Holdings, Inc. (UAL)
Magnetar Financial LLC decreased its holdings in United Continental Holdings, Inc. (NYSE:UAL) by 83.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,119 shares of the transportation company’s stock after selling 20,492 shares during the quarter. Magnetar Financial LLC’s holdings in United Continental were worth $251,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. IFP Advisors Inc increased its stake in United Continental by 14.6% in the 2nd quarter. IFP Advisors Inc now owns 3,079 shares of the transportation company’s stock valued at $232,000 after buying an additional 392 shares during the last quarter. Beach Investment Management LLC. purchased a new stake in United Continental in the 2nd quarter valued at about $227,000. Wetherby Asset Management Inc. increased its stake in United Continental by 1.5% in the 2nd quarter. Wetherby Asset Management Inc. now owns 3,271 shares of the transportation company’s stock valued at $246,000 after buying an additional 47 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in United Continental by 15.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,319 shares of the transportation company’s stock valued at $648,000 after buying an additional 1,137 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in United Continental by 20.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 39,130 shares of the transportation company’s stock valued at $2,945,000 after buying an additional 6,578 shares during the last quarter. 95.92% of the stock is currently owned by institutional investors and hedge funds.
UAL has been the subject of several analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $71.00 price objective (down previously from $72.00) on shares of United Continental in a research note on Friday, September 1st. Citigroup increased their price objective on shares of United Continental from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Bank of America reiterated a “buy” rating and issued a $84.00 price objective (down previously from $85.00) on shares of United Continental in a research note on Tuesday, October 10th. Evercore ISI upgraded shares of United Continental from an “in-line” rating to an “outperform” rating and set a $68.00 price objective for the company in a research note on Wednesday, October 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price objective (down previously from $110.00) on shares of United Continental in a research note on Friday, October 20th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. United Continental currently has a consensus rating of “Hold” and a consensus target price of $78.29.
In other United Continental news, Director Robert A. Milton acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was bought at an average cost of $58.60 per share, with a total value of $58,600.00. Following the acquisition, the director now owns 6,176 shares in the company, valued at $361,913.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.
Shares of United Continental Holdings, Inc. (NYSE:UAL) traded up $0.63 during mid-day trading on Friday, hitting $63.76. 6,283,435 shares of the stock traded hands, compared to its average volume of 3,600,301. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.53 and a current ratio of 0.60. United Continental Holdings, Inc. has a 12 month low of $56.51 and a 12 month high of $83.04. The stock has a market cap of $18,702.41, a price-to-earnings ratio of 8.83, a P/E/G ratio of 1.62 and a beta of 1.04.
United Continental (NYSE:UAL) last issued its quarterly earnings results on Wednesday, October 18th. The transportation company reported $2.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.10. The company had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.87 billion. United Continental had a net margin of 5.22% and a return on equity of 25.26%. United Continental’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $3.11 EPS. equities research analysts anticipate that United Continental Holdings, Inc. will post 6.35 earnings per share for the current fiscal year.
United Continental declared that its board has approved a stock buyback program on Thursday, December 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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United Continental Profile
United Continental Holdings, Inc (UAL) is a holding company and its principal subsidiary is United Air Lines, Inc (United). The Company transports people and cargo through its mainline operations. It has global air rights in North America, Asia-Pacific, Europe, Middle East, Africa and Latin America. The Company, through United and its regional carriers, operates flights from its hubs at Newark Liberty International Airport (Newark Liberty), Chicago O’Hare International Airport (Chicago O’Hare), Denver International Airport (Denver), George Bush Intercontinental Airport (Houston Bush), Los Angeles International Airport (LAX), A.B.
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