Insider Buying: flyExclusive (NYSE:FLYX) Director Purchases 50,000 Shares of Stock

flyExclusive, Inc. (NYSE:FLYX) Director Peter Hopper purchased 50,000 shares of the stock in a transaction on Friday, March 6th. The stock was bought at an average price of $2.54 per share, for a total transaction of $127,000.00. Following the completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $127,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

flyExclusive Stock Down 1.6%

flyExclusive stock traded down $0.04 during mid-day trading on Tuesday, hitting $2.18. 201,432 shares of the company were exchanged, compared to its average volume of 2,890,818. The company has a market capitalization of $205.22 million, a PE ratio of -2.13 and a beta of 0.25. The business has a fifty day moving average of $2.69 and a 200 day moving average of $3.52. flyExclusive, Inc. has a 1-year low of $1.90 and a 1-year high of $8.88.

Institutional Trading of flyExclusive

A number of hedge funds and other institutional investors have recently made changes to their positions in FLYX. Geode Capital Management LLC raised its holdings in shares of flyExclusive by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 113,564 shares of the company’s stock valued at $467,000 after buying an additional 3,373 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in flyExclusive by 11.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 37,750 shares of the company’s stock worth $186,000 after acquiring an additional 3,750 shares during the last quarter. JPMorgan Chase & Co. increased its position in flyExclusive by 56,636.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,241 shares of the company’s stock valued at $31,000 after acquiring an additional 6,230 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in flyExclusive in the 3rd quarter valued at about $32,000. Finally, MBL Wealth LLC raised its stake in shares of flyExclusive by 46.9% in the third quarter. MBL Wealth LLC now owns 28,200 shares of the company’s stock worth $139,000 after acquiring an additional 9,000 shares during the last quarter. 12.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on FLYX. UBS Group set a $7.00 price target on shares of flyExclusive in a report on Monday, January 26th. Lucid Cap Mkts raised shares of flyExclusive to a “strong-buy” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, flyExclusive has an average rating of “Strong Buy” and a consensus target price of $7.00.

flyExclusive Company Profile

flyExclusive (NYSE:FLYX) is a U.S.-based private aviation company that provides on-demand charter, jet card membership, and aircraft management services. The firm operates a proprietary fleet of large-cabin and super-midsize jets, complemented by third-party managed aircraft under its Part 135 operator certificate. flyExclusive offers customized flight solutions for individual, corporate and group travel, with a focus on safety, scheduling flexibility and personalized service.

The company was launched as a standalone brand in 2018 and completed its business combination to become a publicly traded company in November 2021.