Wheels Up Experience (NYSE:UP) Shares Gap Down – Here’s Why

Wheels Up Experience Inc. (NYSE:UP)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $1.27, but opened at $1.07. Wheels Up Experience shares last traded at $1.1050, with a volume of 2,016,437 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Wheels Up Experience in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Wheels Up Experience Stock Down 5.1%

The company has a market capitalization of $842.05 million, a price-to-earnings ratio of -2.55 and a beta of 2.30. The company has a 50-day moving average price of $1.98 and a 200-day moving average price of $1.62.

Wheels Up Experience (NYSE:UP) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.12) earnings per share (EPS) for the quarter.

Insiders Place Their Bets

In other Wheels Up Experience news, CAO Alexander Chatkewitz sold 23,959 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $1.46, for a total transaction of $34,980.14. Following the completion of the transaction, the chief accounting officer owned 507,462 shares in the company, valued at $740,894.52. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Joseph Kedzior sold 25,000 shares of Wheels Up Experience stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $2.94, for a total transaction of $73,500.00. Following the completion of the transaction, the insider owned 834,914 shares of the company’s stock, valued at $2,454,647.16. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 224,907 shares of company stock valued at $617,064 in the last quarter. 0.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. WealthShield Partners LLC bought a new position in Wheels Up Experience in the 3rd quarter worth approximately $33,000. Creative Planning acquired a new position in shares of Wheels Up Experience in the 2nd quarter valued at $25,000. Hudson Bay Capital Management LP acquired a new position in Wheels Up Experience in the 2nd quarter worth $25,000. CWM LLC boosted its stake 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. Finally, Rooted Wealth Advisors Inc. acquired a new position in Wheels Up Experience in the 3rd quarter worth $49,000. Institutional investors own 98.20% of the company’s stock.

Wheels Up Experience Company Profile

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.