Forest Avenue Capital Management LP Invests $16.81 Million in United Airlines Holdings, Inc. (NASDAQ:UAL)

Forest Avenue Capital Management LP purchased a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL) in the 4th quarter, HoldingsChannel reports. The fund purchased 173,142 shares of the transportation company’s stock, valued at approximately $16,812,000. United Airlines accounts for 1.5% of Forest Avenue Capital Management LP’s portfolio, making the stock its 19th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of UAL. Proficio Capital Partners LLC bought a new position in shares of United Airlines in the fourth quarter valued at approximately $137,000. Longbow Finance SA bought a new position in United Airlines during the 4th quarter valued at $9,359,000. KBC Group NV purchased a new position in United Airlines during the 4th quarter worth $485,000. Bleakley Financial Group LLC grew its stake in shares of United Airlines by 293.7% in the 4th quarter. Bleakley Financial Group LLC now owns 23,458 shares of the transportation company’s stock worth $2,278,000 after acquiring an additional 17,499 shares in the last quarter. Finally, Islay Capital Management LLC bought a new position in shares of United Airlines during the fourth quarter valued at about $790,000. Institutional investors own 69.69% of the company’s stock.

United Airlines Stock Performance

NASDAQ:UAL opened at $65.60 on Monday. United Airlines Holdings, Inc. has a twelve month low of $37.02 and a twelve month high of $116.00. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 1.99. The stock has a market cap of $21.47 billion, a P/E ratio of 6.96, a PEG ratio of 0.67 and a beta of 1.19. The business’s 50-day moving average price is $83.20 and its two-hundred day moving average price is $87.42.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Tuesday, January 21st. The transportation company reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.96 by $0.30. The business had revenue of $14.70 billion for the quarter, compared to the consensus estimate of $14.40 billion. United Airlines had a return on equity of 32.26% and a net margin of 5.52%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $2.00 earnings per share. As a group, equities analysts predict that United Airlines Holdings, Inc. will post 12.96 EPS for the current fiscal year.

Analyst Ratings Changes

UAL has been the subject of a number of recent analyst reports. Susquehanna reduced their price objective on shares of United Airlines from $130.00 to $90.00 and set a “positive” rating for the company in a research report on Monday, April 7th. Morgan Stanley increased their price target on United Airlines from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Evercore ISI cut their price objective on United Airlines from $145.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday. Jefferies Financial Group lowered their target price on United Airlines from $154.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Finally, Barclays reduced their price target on shares of United Airlines from $140.00 to $94.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, United Airlines presently has a consensus rating of “Moderate Buy” and an average price target of $102.01.

United Airlines Company Profile

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.