Wheels Up Experience (NYSE:UP) Shares Down 2.3% on Insider Selling

Wheels Up Experience Inc. (NYSE:UP)’s share price was down 2.3% during trading on Friday following insider selling activity. The company traded as low as $1.07 and last traded at $1.09. Approximately 97,001 shares were traded during trading, a decline of 90% from the average daily volume of 1,014,197 shares. The stock had previously closed at $1.11.

Specifically, CEO Mark Briffa sold 28,717 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $1.06, for a total value of $30,440.02. Following the transaction, the chief executive officer now directly owns 1,090,971 shares in the company, valued at approximately $1,156,429.26. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wheels Up Experience Stock Down 1.4 %

The company’s 50-day moving average is $1.44 and its two-hundred day moving average is $1.86. The company has a market capitalization of $764.20 million, a P/E ratio of -2.19 and a beta of 2.42.

Wheels Up Experience (NYSE:UP) last posted its quarterly earnings data on Tuesday, March 11th. The company reported ($0.09) earnings per share for the quarter. The company had revenue of $204.82 million during the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 39.97%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC boosted its stake in Wheels Up Experience by 97.3% in the fourth quarter. Hsbc Holdings PLC now owns 21,775 shares of the company’s stock worth $35,000 after buying an additional 10,740 shares in the last quarter. Stifel Financial Corp purchased a new stake in Wheels Up Experience in the third quarter worth approximately $41,000. Wells Fargo & Company MN boosted its stake in Wheels Up Experience by 49.6% in the fourth quarter. Wells Fargo & Company MN now owns 43,147 shares of the company’s stock worth $71,000 after buying an additional 14,299 shares in the last quarter. SG Americas Securities LLC boosted its stake in Wheels Up Experience by 110.7% in the fourth quarter. SG Americas Securities LLC now owns 48,527 shares of the company’s stock worth $80,000 after buying an additional 25,495 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Wheels Up Experience in the third quarter worth approximately $88,000. 98.20% of the stock is currently owned by institutional investors.

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.