Wheels Up Experience (NYSE:UP) Shares Up 6.7%

Wheels Up Experience Inc. (NYSE:UP)’s stock price rose 6.7% during mid-day trading on Monday . The stock traded as high as $2.56 and last traded at $2.56. Approximately 255,616 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 779,143 shares. The stock had previously closed at $2.40.

Wheels Up Experience Stock Performance

The company has a debt-to-equity ratio of 2.41, a current ratio of 0.48 and a quick ratio of 0.45. The stock has a 50-day moving average price of $2.64 and a 200-day moving average price of $2.70. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -0.16 and a beta of 2.24.

Wheels Up Experience (NYSE:UP) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.60) by $2.47. The business had revenue of $246.38 million during the quarter. Wheels Up Experience had a negative return on equity of 291.29% and a negative net margin of 38.89%.

Insiders Place Their Bets

In other Wheels Up Experience news, insider Laura Heltebran sold 28,413 shares of Wheels Up Experience stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $2.54, for a total value of $72,169.02. Following the completion of the sale, the insider now owns 37,707 shares in the company, valued at approximately $95,775.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Wheels Up Experience

A number of institutional investors have recently added to or reduced their stakes in the stock. Knighthead Capital Management LLC bought a new stake in shares of Wheels Up Experience during the third quarter worth about $125,365,000. Kore Advisors LP acquired a new position in Wheels Up Experience in the 4th quarter valued at approximately $88,552,000. Instrumental Wealth LLC lifted its holdings in shares of Wheels Up Experience by 315.6% during the fourth quarter. Instrumental Wealth LLC now owns 156,305 shares of the company’s stock worth $531,000 after purchasing an additional 118,699 shares during the period. CCG Wealth Management LLC bought a new position in Wheels Up Experience during the 1st quarter worth $287,000. Finally, CVA Family Office LLC bought a new position in Wheels Up Experience during the 1st quarter worth approximately $175,000. 98.20% of the stock is currently owned by institutional investors and hedge funds.

Wheels Up Experience Company Profile

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.