Sunday, June 26, 2022

Buying Buzz: Wheels Up Experience Inc. [UP] Director Adelman David J. acquires 250,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Wheels Up Experience Inc. shares valued at $648,825 were purchased by Adelman David J. on Jun 01. At $2.60 per share, Adelman David J. acquired 250,000 shares. The insider’s holdings grew to 850,000 shares worth approximately $2.0 million following the completion of this transaction.


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Also, Adelman David J. purchased 200,000 shares, netting a total of over 619,800 in proceeds. Following the buying of shares at $3.10 each, the insider now holds 600,000 shares.

Before that, Adelman David J. had added 100,000 shares to its account. In a trade valued at $490,000, the Director bought Wheels Up Experience Inc. shares for $4.90 each. Upon closing the transaction, the insider’s holdings increased to 100,000 shares, worth approximately $0.94 million.

As published in their initiating research note from Goldman on June 15, 2022, Wheels Up Experience Inc. [UP] has been a Buy and the price target has been revised to $5. This represents a 53.0% premium over Thursday’s closing price. As of November 16, 2021, Barrington Research has decreased its “an Outperform” rating to a “Mkt perform” for UP. Earlier on November 09, 2021, Morgan Stanley initiated its rating. Their recommendation was “an Underweight” for UP stock.

Analyzing UP’s Price Performance

On Thursday, Wheels Up Experience Inc. [NYSE: UP] plunged -2.08% to $2.35. The stock’s lowest price that day was $2.29, but it reached a high of $2.415 in the same session. During the last five days, there has been a drop of approximately 0.00%. Over the course of the year, Wheels Up Experience Inc. shares have dropped approximately -49.35%. Shares of the company reached a 52-week high of $4.74 on 01/03/22 and a 52-week low of $1.82 on 06/14/22. A 50-day SMA is recorded $2.67, while a 200-day SMA reached $4.39. Nevertheless, trading volume fell to 2.11 million shares from 2.35 million shares the previous day.

Support And Resistance Levels for Wheels Up Experience Inc. (UP)

According to the 24-hour chart, there is a support level at 2.29, which, if violated, would cause prices to drop to 2.23. In the upper region, resistance lies at 2.41. The next price resistance is at 2.48. RSI (Relative Strength Index) is 46.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.04, which suggests the price will decrease in the coming days. Percent R is at 47.52%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Wheels Up Experience Inc. subject to short interest?

Stocks of Wheels Up Experience Inc. saw a sharp steep in short interest on May 30, 2022 dropping by -2.6 million shares to 8.14 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 10.74 million shares. A decline of -31.94% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.03 of the overall float, the days-to-cover ratio (short ratio) decline to 4.03.

Which companies own the most shares of Wheels Up Experience Inc. (UP)?

According to Fidelity Management & Research Co filings, the company currently owns 21,341,078 shares, which is about 8.68% of the total UP shares outstanding. The investor’s shares have appreciated by 3,807,100 from its previous 13-F filing of 17533978.0 shares. With the completion of the buy transaction, Franklin Advisers, Inc.’s stake is now worth $25,462,606. Goldman Sachs & Co. LLC acquire a 8,413.77% interest valued at $20.42 million while The Vanguard Group, Inc. purchased a 4,806,801 stake. A total of 87,168 shares of Wheels Up Experience Inc. were bought by SSgA Funds Management, Inc. during the quarter, and -48,813 were sold by BlackRock Fund Advisors. In its current portfolio, Morgan Stanley & Co. LLC holds 2,726,811 shares valued at $6.9 million.

In terms of Wheels Up Experience Inc. share price expectations, FactSet research, analysts set an average price target of $5.34 in the next 12 months, up nearly 108.33% from the previous closing price of $2.40. Analysts anticipate Wheels Up Experience Inc. stock to reach $8.00 by 2022, with the lowest price target being $2.40. In spite of this, 8 analysts ranked Wheels Up Experience Inc. stock as an Overweight at the end of 2022. On October 01, 2021, Credit Suisse assigned a price target of “an Outperform” to the stock and initiated coverage with a $14.

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