Wheels Up Experience (NYSE:UP) Stock Price Down 6.2% – Here’s What Happened

Shares of Wheels Up Experience Inc. (NYSE:UP) traded down 6.2% during trading on Wednesday . The company traded as low as $0.7105 and last traded at $0.6860. 380,408 shares changed hands during trading, a decline of 96% from the average session volume of 9,521,134 shares. The stock had previously closed at $0.7312.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UP. Weiss Ratings restated a “sell (d-)” rating on shares of Wheels Up Experience in a report on Wednesday, January 21st. Wall Street Zen downgraded Wheels Up Experience from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Wheels Up Experience Stock Performance

The company has a 50 day moving average of $0.75 and a 200 day moving average of $1.40. The stock has a market capitalization of $510.25 million, a price-to-earnings ratio of -1.39 and a beta of 2.34.

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

Insiders Place Their Bets

In other Wheels Up Experience news, insider Mark Briffa sold 86,813 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $1.23, for a total value of $106,779.99. Following the sale, the insider directly owned 866,670 shares in the company, valued at $1,066,004.10. This trade 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 at this hyperlink. Also, insider Meaghan Danielle Wells sold 47,931 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $1.22, for a total value of $58,475.82. Following the transaction, the insider directly owned 526,681 shares of the company’s stock, valued at approximately $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 company insiders.

Institutional Trading of Wheels Up Experience

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

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.