Wheels Up Experience (NYSE:UP) Shares Down 9.5% on Insider Selling

Shares of Wheels Up Experience Inc. (NYSE:UP) were down 9.5% during trading on Monday after an insider sold shares in the company. The stock traded as low as $1.31 and last traded at $1.2850. Approximately 1,072,131 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 3,148,998 shares. The stock had previously closed at $1.42.

Specifically, insider Meaghan Danielle Wells sold 47,931 shares of the firm’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 completion of the transaction, the insider directly owned 526,681 shares of the company’s stock, valued at $642,550.82. This trade represents a 8.34% 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 hyperlink. Also, insider Mark Briffa sold 86,813 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $1.23, for a total transaction of $106,779.99. Following the completion of the sale, the insider owned 866,670 shares in the company, valued at $1,066,004.10. This represents a 9.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

A number of equities research analysts have commented on UP shares. Wall Street Zen lowered shares of Wheels Up Experience from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wheels Up Experience in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Wheels Up Experience Stock Performance

The company has a market cap of $897.96 million, a P/E ratio of -2.50 and a beta of 2.30. The business’s 50-day moving average price is $1.87 and its 200 day moving average price is $1.63.

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

Hedge Funds Weigh In On Wheels Up Experience

Hedge funds have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP bought a new stake in Wheels Up Experience during the 2nd quarter valued at $25,000. Creative Planning purchased a new stake in shares of Wheels Up Experience in the 2nd quarter valued at $25,000. CWM LLC raised its position 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 purchasing an additional 10,827 shares during the period. Beck Mack & Oliver LLC bought a new stake in Wheels Up Experience in the second quarter worth $27,000. Finally, Unconventional Investor LLC purchased a new stake in Wheels Up Experience during the third quarter valued at about $31,000. 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.