Wheels Up Experience (NYSE:UP) Shares Gap Up to $2.23

Wheels Up Experience Inc. (NYSE:UP)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $2.23, but opened at $2.45. Wheels Up Experience shares last traded at $2.19, with a volume of 68,680 shares trading hands.

Wheels Up Experience Trading Down 1.3 %

The stock has a market capitalization of $1.53 billion, a PE ratio of -0.16 and a beta of 2.24. The company has a current ratio of 0.48, a quick ratio of 0.45 and a debt-to-equity ratio of 2.41. The firm has a 50-day moving average price of $2.63 and a 200-day moving average price of $2.69.

Wheels Up Experience (NYSE:UP) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($2.60) by $2.47. The company had revenue of $246.38 million during the quarter. Wheels Up Experience had a negative net margin of 38.89% and a negative return on equity of 291.29%.

Insider Buying and Selling

In other Wheels Up Experience news, insider Laura Heltebran sold 28,413 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $2.54, for a total transaction of $72,169.02. Following the completion of the transaction, the insider now directly owns 37,707 shares of the company’s stock, valued at $95,775.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in UP. Capital Square LLC bought a new position in shares of Wheels Up Experience in the first quarter worth approximately $41,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Wheels Up Experience during the 1st quarter worth $67,000. Fifth Lane Capital LP purchased a new position in Wheels Up Experience in the first quarter worth $45,000. CCG Wealth Management LLC bought a new position in Wheels Up Experience in the first quarter valued at $287,000. Finally, Cannon Global Investment Management LLC purchased a new stake in Wheels Up Experience during the first quarter valued at about $145,000. Hedge funds and other institutional investors own 98.20% of the company’s stock.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.