Wheels Up Experience Target of Unusually Large Options Trading (NYSE:UP)

Wheels Up Experience Inc. (NYSE:UP) saw unusually large options trading on Monday. Investors bought 12,901 call options on the company. This is an increase of approximately 128% compared to the average daily volume of 5,666 call options.

Insiders Place Their Bets

In related news, insider Meaghan Danielle Wells sold 47,931 shares of Wheels Up Experience stock in a transaction on Friday, November 7th. The shares were sold at an average price of $1.22, for a total value of $58,475.82. Following the sale, the insider owned 526,681 shares in the company, valued at $642,550.82. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the insider directly owned 866,670 shares in the company, valued at approximately $1,066,004.10. The trade was a 9.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Wheels Up Experience

Hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Wheels Up Experience during the 2nd quarter valued at about $198,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Wheels Up Experience by 197.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,534 shares of the company’s stock valued at $43,000 after buying an additional 26,917 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Wheels Up Experience by 9.8% during 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 in the last quarter. Two Sigma Investments LP purchased a new position in Wheels Up Experience in the 3rd quarter worth approximately $272,000. Finally, CIBC Bancorp USA Inc. bought a new position in Wheels Up Experience in the 3rd quarter valued at approximately $138,000. Institutional investors own 98.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on UP. Wall Street Zen lowered Wheels Up Experience from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wheels Up Experience in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Wheels Up Experience Stock Up 53.1%

Shares of UP stock traded up $0.36 during trading hours on Monday, hitting $1.04. 47,572,266 shares of the company’s stock traded hands, compared to its average volume of 7,495,816. The stock’s fifty day simple moving average is $0.82 and its two-hundred day simple moving average is $1.43. Wheels Up Experience has a 12-month low of $0.56 and a 12-month high of $3.50. The stock has a market cap of $746.97 million, a price-to-earnings ratio of -2.05 and a beta of 2.34.

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

About Wheels Up Experience

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.