Putnam Investments LLC reduced its holdings in shares of United Continental Holdings Inc (NASDAQ:UAL) by 97.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,918 shares of the transportation company’s stock after selling 465,926 shares during the period. Putnam Investments LLC’s holdings in United Continental were worth $955,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in UAL. APG Asset Management N.V. increased its stake in United Continental by 59.5% during the 2nd quarter. APG Asset Management N.V. now owns 1,725,800 shares of the transportation company’s stock worth $132,678,000 after buying an additional 643,900 shares during the period. Calamos Advisors LLC purchased a new stake in United Continental during the 2nd quarter worth approximately $53,183,000. AJO LP increased its stake in United Continental by 17.0% during the 1st quarter. AJO LP now owns 2,427,413 shares of the transportation company’s stock worth $193,659,000 after buying an additional 353,196 shares during the period. Neuberger Berman Group LLC increased its stake in United Continental by 2,313.8% during the 1st quarter. Neuberger Berman Group LLC now owns 332,085 shares of the transportation company’s stock worth $26,493,000 after buying an additional 318,327 shares during the period. Finally, MUFG Securities EMEA plc purchased a new stake in United Continental during the 2nd quarter worth approximately $21,888,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Edward Shapiro bought 10,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $82.00 per share, for a total transaction of $820,000.00. Following the acquisition, the director now owns 182,707 shares in the company, valued at approximately $14,981,974. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carolyn Corvi sold 1,032 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $86.37, for a total transaction of $89,133.84. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
United Continental (NASDAQ:UAL) last issued its earnings results on Tuesday, July 16th. The transportation company reported $4.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.14. United Continental had a net margin of 6.22% and a return on equity of 29.33%. The business had revenue of $11.40 billion during the quarter, compared to analysts’ expectations of $11.37 billion. During the same quarter in the prior year, the business posted $3.23 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts expect that United Continental Holdings Inc will post 11.72 EPS for the current year.
A number of equities research analysts have commented on UAL shares. Zacks Investment Research raised shares of United Continental from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Friday, August 16th. Berenberg Bank started coverage on shares of United Continental in a research report on Friday, September 6th. They issued a “hold” rating and a $95.00 price objective on the stock. Buckingham Research increased their price objective on shares of United Continental from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. reissued a “buy” rating on shares of United Continental in a research report on Friday, September 13th. Finally, Goldman Sachs Group raised shares of United Continental from a “neutral” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. United Continental presently has a consensus rating of “Buy” and a consensus target price of $101.72.
United Continental Profile
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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