Wheels Up Experience (NYSE:UP) Shares Gap Down – Here’s What Happened

Shares of Wheels Up Experience Inc. (NYSE:UP) gapped down before the market opened on Friday . The stock had previously closed at $1.13, but opened at $1.04. Wheels Up Experience shares last traded at $1.1150, with a volume of 1,834,230 shares changing hands.

Analyst Upgrades and Downgrades

UP has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Wheels Up Experience in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Wheels Up Experience from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Wheels Up Experience currently has a consensus rating of “Sell”.

Wheels Up Experience Stock Down 1.3%

The stock’s fifty day simple moving average is $1.77 and its two-hundred day simple moving average is $1.63. The firm has a market cap of $779.16 million, a PE ratio of -2.19 and a beta of 2.30.

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

Insider Buying and Selling

In other Wheels Up Experience news, Director Donald Lee Moak sold 43,166 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $3.11, for a total transaction of $134,246.26. Following the sale, the director directly owned 180,431 shares in the company, valued at approximately $561,140.41. This trade represents a 19.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Meaghan Danielle Wells sold 47,931 shares of Wheels Up Experience stock in a transaction on Friday, November 7th. The stock was sold at an average price of $1.22, for a total value of $58,475.82. Following the completion of the sale, the insider directly owned 526,681 shares of the company’s stock, valued at approximately $642,550.82. The trade was a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 335,692 shares of company stock worth $747,340 over the last quarter. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Investments LP purchased a new position in Wheels Up Experience in the 3rd quarter worth about $272,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Wheels Up Experience by 350.6% in 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 during the period. Clearstead Advisors LLC purchased a new position in shares of Wheels Up Experience during the third quarter valued at approximately $37,000. Vanguard Group Inc. raised its holdings 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 purchasing an additional 323,945 shares during the last quarter. Finally, Unconventional Investor LLC bought a new position in Wheels Up Experience during the third quarter valued at approximately $31,000. 98.20% of the stock is owned by institutional investors.

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.