Wheels Up Experience (NYSE:UP) Shares Down 6.5% – Here’s Why

Wheels Up Experience Inc. (NYSE:UP) shares were down 6.5% on Tuesday . The company traded as low as $1.52 and last traded at $1.52. Approximately 564,997 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 1,061,084 shares. The stock had previously closed at $1.62.

Wheels Up Experience Stock Performance

The firm’s fifty day moving average is $1.19 and its 200-day moving average is $1.44. The company has a market capitalization of $1.06 billion, a P/E ratio of -3.03 and a beta of 2.38.

Wheels Up Experience (NYSE:UP) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.11) earnings per share for the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 39.97%. The firm had revenue of $177.53 million for the quarter.

Insider Buying and Selling at Wheels Up Experience

In other news, CEO of Air Partner Mark Briffa sold 28,717 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $1.06, for a total value of $30,440.02. Following the transaction, the insider now owns 1,090,971 shares in the company, valued at approximately $1,156,429.26. The trade was a 2.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in UP. Geode Capital Management LLC boosted its stake in Wheels Up Experience by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,978,652 shares of the company’s stock worth $3,266,000 after acquiring an additional 13,372 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Wheels Up Experience by 10.7% during the fourth quarter. Northern Trust Corp now owns 840,804 shares of the company’s stock valued at $1,387,000 after purchasing an additional 81,293 shares during the period. First Trust Advisors LP bought a new position in shares of Wheels Up Experience during the 4th quarter worth about $1,264,000. Corient Private Wealth LLC bought a new position in shares of Wheels Up Experience during the 4th quarter worth about $339,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Wheels Up Experience in the 1st quarter valued at about $156,000. 98.20% of the stock is owned by institutional investors and hedge funds.

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.