Wheels Up Experience (NYSE:UP) Shares Gap Up – Should You Buy?

Wheels Up Experience Inc. (NYSE:UP)’s share price gapped up before the market opened on Monday . The stock had previously closed at $0.6760, but opened at $0.8551. Wheels Up Experience shares last traded at $0.8680, with a volume of 7,384,371 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on UP shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Wheels Up Experience in a research note on Wednesday, October 8th. Wall Street Zen cut Wheels Up Experience from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Wheels Up Experience Trading Up 53.1%

The company has a 50 day moving average of $0.82 and a 200 day moving average of $1.43. The firm has a market cap of $746.97 million, a price-to-earnings ratio of -2.03 and a beta of 2.34.

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

Insider Buying and Selling

In other news, insider Mark Briffa sold 86,813 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $1.23, for a total value of $106,779.99. Following the completion of the transaction, the insider owned 866,670 shares in the company, valued at $1,066,004.10. This represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Meaghan Danielle Wells sold 47,931 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $1.22, for a total transaction of $58,475.82. Following the completion of the sale, the insider directly owned 526,681 shares in the company, valued at $642,550.82. This represents a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in Wheels Up Experience in the 2nd quarter valued at $795,000. Militia Capital Partners LP bought a new position in shares of Wheels Up Experience in the 3rd quarter valued at about $644,000. Vanguard Group Inc. increased its position in shares of Wheels Up Experience by 9.8% in the third quarter. Vanguard Group Inc. now owns 3,614,924 shares of the company’s stock valued at $6,651,000 after acquiring an additional 323,945 shares during the last quarter. Inspire Investing LLC bought a new stake in Wheels Up Experience during the third quarter worth about $463,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Wheels Up Experience by 350.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 305,419 shares of the company’s stock worth $562,000 after acquiring an additional 237,639 shares in the last quarter. Institutional investors own 98.20% of the company’s stock.

Wheels Up Experience Company Profile

Wheels Up Experience Inc is a membership-driven private aviation company that provides on-demand charter flights and flight card services to corporate clients and high-net-worth individuals. The company operates a combination of owned and managed aircraft, including turboprops and light to midsize jets, and supplements its fleet through a network of partner operators. Its digital platform allows members to book flights, manage itineraries and access empty-leg opportunities with real-time pricing and availability.

Through tiered membership programs, Wheels Up offers flexible access to private air travel without the long-term commitments typically associated with fractional ownership.