Wheels Up Experience (NYSE:UP) Shares Down 6% – What’s Next?

Shares of Wheels Up Experience Inc. (NYSE:UP) were down 6% during mid-day trading on Monday . The company traded as low as $1.70 and last traded at $1.71. Approximately 284,018 shares changed hands during trading, a decline of 61% from the average daily volume of 733,918 shares. The stock had previously closed at $1.82.

Wheels Up Experience Stock Performance

The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -3.42 and a beta of 2.40. The company has a 50 day moving average price of $2.05 and a 200 day moving average price of $2.24. The company has a debt-to-equity ratio of 238.01, a quick ratio of 0.22 and a current ratio of 0.31.

Insider Activity

In related news, Director Donald Lee Moak sold 20,000 shares of Wheels Up Experience stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the sale, the director now owns 130,231 shares of the company’s stock, valued at approximately $325,577.50. The trade was a 13.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of Wheels Up Experience by 1,399.2% in the second quarter. Bank of New York Mellon Corp now owns 264,377 shares of the company’s stock worth $500,000 after buying an additional 246,742 shares in the last quarter. CIBC Asset Management Inc bought a new stake in Wheels Up Experience during the second quarter valued at $37,000. Rhumbline Advisers increased its stake in Wheels Up Experience by 15,329.7% in the 2nd quarter. Rhumbline Advisers now owns 87,332 shares of the company’s stock worth $165,000 after acquiring an additional 86,766 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Wheels Up Experience during the second quarter worth about $28,000. Finally, The Manufacturers Life Insurance Company raised its stake in Wheels Up Experience by 44.4% in the second quarter. The Manufacturers Life Insurance Company now owns 117,772 shares of the company’s stock valued at $223,000 after purchasing an additional 36,201 shares in the last quarter. Institutional investors own 98.20% of the company’s stock.

Wheels Up Experience Company Profile

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.