Municipal Employees Retirement System of Michigan boosted its position in United Continental Holdings Inc (NASDAQ:UAL) by 227.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,080 shares of the transportation company’s stock after buying an additional 7,000 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in United Continental were worth $883,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of UAL. Pinnacle Financial Partners Inc. bought a new stake in United Continental in the 1st quarter valued at about $25,000. Shelton Capital Management acquired a new position in United Continental during the 1st quarter valued at about $26,000. Quadrant Capital Group LLC boosted its stake in United Continental by 202.8% during the 1st quarter. Quadrant Capital Group LLC now owns 1,196 shares of the transportation company’s stock valued at $93,000 after purchasing an additional 801 shares during the last quarter. Edge Wealth Management LLC boosted its stake in United Continental by 2,145.5% during the 2nd quarter. Edge Wealth Management LLC now owns 1,235 shares of the transportation company’s stock valued at $108,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. boosted its stake in United Continental by 32.1% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 2,158 shares of the transportation company’s stock valued at $174,000 after purchasing an additional 524 shares during the last quarter. 98.12% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ UAL opened at $82.61 on Friday. United Continental Holdings Inc has a twelve month low of $77.02 and a twelve month high of $97.85. The business has a 50 day simple moving average of $90.13. The stock has a market cap of $21.22 billion, a P/E ratio of 9.05, a PEG ratio of 0.33 and a beta of 1.16. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.55 and a quick ratio of 0.49.
A number of research firms have issued reports on UAL. BidaskClub downgraded United Continental from a “hold” rating to a “sell” rating in a research note on Friday. Buckingham Research lifted their price target on United Continental from $111.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Goldman Sachs Group upgraded United Continental from a “neutral” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Thursday, June 6th. Morgan Stanley upgraded United Continental from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $101.00 to $110.00 in a research note on Monday, May 20th. Finally, Imperial Capital reiterated an “underperform” rating and set a $81.00 price target (up previously from $78.00) on shares of United Continental in a research note on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $102.76.
In other news, COO Gregory L. Hart sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $93.48, for a total value of $467,400.00. Following the transaction, the chief operating officer now owns 17,087 shares in the company, valued at approximately $1,597,292.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is owned by insiders.
About United Continental
United Continental Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, the Middle East, and Latin America. It transports people and cargo through its mainline and regional operations. As of December 31, 2018, the company operated a fleet of 1,329 aircraft.
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