Seamount Financial Group Inc. Raises Stake in United Airlines Holdings, Inc. (NASDAQ:UAL)

Seamount Financial Group Inc. increased its stake in United Airlines Holdings, Inc. (NASDAQ:UAL) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,195 shares of the transportation company’s stock after purchasing an additional 302 shares during the quarter. Seamount Financial Group Inc.’s holdings in United Airlines were worth $468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Interval Partners LP acquired a new stake in United Airlines in the first quarter valued at $103,354,000. Point72 Asset Management L.P. grew its stake in United Airlines by 489.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock valued at $111,687,000 after acquiring an additional 1,905,664 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in United Airlines by 29.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after acquiring an additional 1,263,604 shares in the last quarter. Senator Investment Group LP acquired a new position in United Airlines during the first quarter worth about $35,910,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of United Airlines by 452.0% in the first quarter. Canada Pension Plan Investment Board now owns 713,800 shares of the transportation company’s stock valued at $34,177,000 after purchasing an additional 584,500 shares in the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

United Airlines Stock Performance

NASDAQ:UAL opened at $74.15 on Friday. The company has a market cap of $24.38 billion, a P/E ratio of 9.17, a P/E/G ratio of 0.94 and a beta of 1.44. The firm’s 50 day moving average is $51.38 and its two-hundred day moving average is $49.71. United Airlines Holdings, Inc. has a fifty-two week low of $33.68 and a fifty-two week high of $74.95. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 2.07.

United Airlines (NASDAQ:UAL) last issued its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.23. United Airlines had a return on equity of 33.90% and a net margin of 5.28%. The business had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the company posted $3.65 EPS. Analysts expect that United Airlines Holdings, Inc. will post 9.88 EPS for the current year.

United Airlines announced that its board has initiated a share buyback program on Tuesday, October 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the transportation company to buy up to 7.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on UAL. Sanford C. Bernstein raised their price objective on shares of United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America raised their price target on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group upped their price objective on United Airlines from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Susquehanna upped their target price on shares of United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.51.

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.