Stone Ridge Asset Management LLC acquired a new stake in United Continental Holdings Inc (NYSE:UAL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 121,975 shares of the transportation company’s stock, valued at approximately $8,221,000. United Continental makes up about 0.5% of Stone Ridge Asset Management LLC’s investment portfolio, making the stock its 20th largest position.
Other hedge funds have also recently made changes to their positions in the company. Advisors Preferred LLC lifted its holdings in United Continental by 1,100.8% in the 4th quarter. Advisors Preferred LLC now owns 1,513 shares of the transportation company’s stock valued at $102,000 after purchasing an additional 1,387 shares in the last quarter. Focused Wealth Management Inc purchased a new position in United Continental in the 4th quarter valued at $135,000. Deltec Asset Management LLC purchased a new position in United Continental in the 4th quarter valued at $203,000. Beach Investment Counsel Inc. PA purchased a new position in United Continental in the 4th quarter valued at $204,000. Finally, Wetherby Asset Management Inc. purchased a new position in United Continental in the 4th quarter valued at $208,000. Institutional investors own 97.22% of the company’s stock.
Shares of United Continental Holdings Inc (NYSE UAL) traded up $0.74 during trading hours on Friday, hitting $70.88. The company had a trading volume of 4,562,943 shares, compared to its average volume of 3,545,881. The company has a quick ratio of 0.49, a current ratio of 0.56 and a debt-to-equity ratio of 1.44. The firm has a market cap of $20,179.61, a P/E ratio of 10.03 and a beta of 0.99. United Continental Holdings Inc has a 1 year low of $56.51 and a 1 year high of $83.04.
United Continental (NYSE:UAL) last issued its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.45. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.41 billion. United Continental had a return on equity of 23.40% and a net margin of 5.65%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.78 EPS. sell-side analysts expect that United Continental Holdings Inc will post 7.75 EPS for the current year.
United Continental announced that its Board of Directors has initiated a share repurchase program on Thursday, December 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
A number of brokerages have weighed in on UAL. Morgan Stanley raised their price objective on United Continental from $68.00 to $71.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Bank of America raised their price objective on United Continental from $80.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Buckingham Research raised their price objective on United Continental from $83.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Evercore ISI lowered United Continental from an “outperform” rating to an “in-line” rating in a report on Wednesday, January 24th. Finally, Imperial Capital raised their target price on United Continental from $64.00 to $74.00 and gave the stock a “line” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $83.03.
In other United Continental news, Director Edward Shapiro acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was purchased at an average cost of $70.65 per share, with a total value of $1,766,250.00. Following the transaction, the director now owns 37,707 shares of the company’s stock, valued at $2,663,999.55. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by company insiders.
United Continental Company Profile
United Continental Holdings, Inc (UAL) is a holding company and its principal subsidiary is United Air Lines, Inc (United). The Company transports people and cargo through its mainline operations. It has global air rights in North America, Asia-Pacific, Europe, Middle East, Africa and Latin America. The Company, through United and its regional carriers, operates flights from its hubs at Newark Liberty International Airport (Newark Liberty), Chicago O’Hare International Airport (Chicago O’Hare), Denver International Airport (Denver), George Bush Intercontinental Airport (Houston Bush), Los Angeles International Airport (LAX), A.B.
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