Virtu Financial LLC Takes Position in United Continental Holdings, Inc. (UAL)
Virtu Financial LLC bought a new stake in shares of United Continental Holdings, Inc. (NYSE:UAL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 20,608 shares of the transportation company’s stock, valued at approximately $377,000.
Several other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in United Continental by 18.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 20,297 shares of the transportation company’s stock valued at $1,236,000 after purchasing an additional 3,180 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in United Continental by 73.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 174,195 shares of the transportation company’s stock valued at $10,605,000 after purchasing an additional 73,517 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in United Continental in the 3rd quarter valued at $28,887,000. U S Global Investors Inc. raised its stake in United Continental by 20.8% in the 3rd quarter. U S Global Investors Inc. now owns 229,017 shares of the transportation company’s stock valued at $13,940,000 after purchasing an additional 39,380 shares during the last quarter. Finally, Marianas Fund Management LLC raised its stake in United Continental by 64.6% in the 3rd quarter. Marianas Fund Management LLC now owns 81,800 shares of the transportation company’s stock valued at $4,980,000 after purchasing an additional 32,100 shares during the last quarter. Hedge funds and other institutional investors own 95.92% of the company’s stock.
UAL has been the subject of several recent research reports. Morgan Stanley reduced their price objective on United Continental from $79.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, August 17th. Zacks Investment Research downgraded United Continental from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Wolfe Research raised United Continental to an “outperform” rating and cut their target price for the stock from $97.00 to $95.00 in a research note on Sunday, August 20th. Stephens reaffirmed an “equal weight” rating and issued a $65.00 target price (down from $80.00) on shares of United Continental in a research note on Thursday, September 7th. Finally, Citigroup reissued a “neutral” rating and set a $68.00 price objective (down from $85.00) on shares of United Continental in a research report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $78.29.
United Continental (NYSE:UAL) last posted its earnings results on Wednesday, October 18th. The transportation company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.10. The firm had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.87 billion. United Continental had a return on equity of 25.26% and a net margin of 5.22%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.11 earnings per share. research analysts predict that United Continental Holdings, Inc. will post 6.31 EPS for the current fiscal year.
United Continental declared that its board has initiated a share buyback plan on Thursday, December 7th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In related news, Director Edward Shapiro bought 15,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $59.87 per share, with a total value of $898,050.00. Following the completion of the acquisition, the director now owns 27,707 shares in the company, valued at approximately $1,658,818.09. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert A. Milton bought 1,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was bought at an average cost of $58.60 per share, for a total transaction of $58,600.00. Following the acquisition, the director now owns 6,176 shares of the company’s stock, valued at approximately $361,913.60. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.
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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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