Masters Capital Management LLC Sells 1,000,000 Shares of Wheels Up Experience Inc. $UP

Masters Capital Management LLC reduced its holdings in Wheels Up Experience Inc. (NYSE:UP) by 20.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,000,000 shares of the company’s stock after selling 1,000,000 shares during the quarter. Masters Capital Management LLC owned approximately 0.11% of Wheels Up Experience worth $2,066,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of UP. Hudson Bay Capital Management LP bought a new stake in shares of Wheels Up Experience in the second quarter worth $25,000. Creative Planning bought a new position in Wheels Up Experience during the 2nd quarter worth $25,000. Kestra Private Wealth Services LLC acquired a new position in Wheels Up Experience during the 3rd quarter worth about $25,000. Beck Mack & Oliver LLC acquired a new position in Wheels Up Experience during the 2nd quarter worth about $27,000. Finally, Rooted Wealth Advisors Inc. grew its position in shares of Wheels Up Experience by 80.2% in the 4th quarter. Rooted Wealth Advisors Inc. now owns 45,041 shares of the company’s stock valued at $30,000 after buying an additional 20,041 shares during the last quarter. Institutional investors and hedge funds own 98.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Wheels Up Experience in a research note on Monday, June 1st. Wall Street Zen cut Wheels Up Experience from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Insider Activity

In related news, major shareholder Ck Wheels Llc sold 27,524 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $8.05, for a total transaction of $221,568.20. Following the completion of the sale, the insider owned 12,870,354 shares of the company’s stock, valued at $103,606,349.70. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO George N. Mattson bought 10,029 shares of the stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $5.13 per share, with a total value of $51,448.77. Following the completion of the acquisition, the chief executive officer owned 26,316 shares of the company’s stock, valued at $135,001.08. This represents a 61.58% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 27,791 shares of company stock worth $146,206 and have sold 43,027 shares worth $335,159. 0.33% of the stock is owned by corporate insiders.

Wheels Up Experience Trading Down 0.6%

Shares of UP opened at $6.03 on Monday. The stock has a market capitalization of $218.29 million, a P/E ratio of -0.76 and a beta of 2.04. The firm’s fifty day simple moving average is $7.68 and its two-hundred day simple moving average is $10.04. Wheels Up Experience Inc. has a 12 month low of $4.69 and a 12 month high of $70.00.

Wheels Up Experience (NYSE:UP) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($2.29) earnings per share for the quarter. The firm had revenue of $168.92 million during the quarter.

Wheels Up Experience Profile

Wheels Up Experience Inc is a membership-driven private aviation company that provides on-demand charter flights and flight card services to corporate clients and high-net-worth individuals. The company operates a combination of owned and managed aircraft, including turboprops and light to midsize jets, and supplements its fleet through a network of partner operators. Its digital platform allows members to book flights, manage itineraries and access empty-leg opportunities with real-time pricing and availability.

Through tiered membership programs, Wheels Up offers flexible access to private air travel without the long-term commitments typically associated with fractional ownership.