Today The Covey Capital Advisors LLC Purchases New Stake in United Continental Holdings, Inc. (UAL)

Today The Covey Capital Advisors LLC Purchases New Stake in United Continental Holdings, Inc. (UAL)

Covey Capital Advisors LLC purchased a new stake in shares of United Continental Holdings, Inc. (NYSE:UAL) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 4,000 shares of the company’s stock, valued at approximately $210,000.

Several other large investors also recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in United Continental Holdings by 19.6% in the second quarter. IFP Advisors Inc now owns 2,551 shares of the company’s stock valued at $105,000 after buying an additional 418 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in United Continental Holdings during the second quarter valued at about $107,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in United Continental Holdings by 302.9% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 4,182 shares of the company’s stock valued at $172,000 after buying an additional 3,144 shares during the period. Advisor Group Inc. acquired a new stake in United Continental Holdings during the second quarter valued at about $176,000. Finally, Ausdal Financial Partners Inc. acquired a new stake in United Continental Holdings during the second quarter valued at about $205,000. 92.99% of the stock is owned by hedge funds and other institutional investors.

Shares of United Continental Holdings, Inc. (NYSE:UAL) opened at 73.90 on Wednesday. The stock’s 50 day moving average price is $73.58 and its 200-day moving average price is $58.32. United Continental Holdings, Inc. has a 52-week low of $37.41 and a 52-week high of $76.80. The firm has a market cap of $23.45 billion, a PE ratio of 10.79 and a beta of 0.71.

United Continental Holdings (NYSE:UAL) last announced its quarterly earnings results on Tuesday, January 17th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.05. United Continental Holdings had a return on equity of 35.62% and a net margin of 6.19%. The firm earned $9.05 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the firm earned $2.54 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that United Continental Holdings, Inc. will post $6.71 earnings per share for the current fiscal year.

UAL has been the subject of several recent analyst reports. Credit Suisse Group set a $47.00 target price on United Continental Holdings and gave the stock a “hold” rating in a research note on Friday, October 7th. Sanford C. Bernstein initiated coverage on United Continental Holdings in a research note on Monday, October 10th. They set a “market perform” rating and a $55.00 target price for the company. Imperial Capital raised their target price on United Continental Holdings from $57.00 to $63.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 11th. Stifel Nicolaus cut their target price on United Continental Holdings from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 24th. Finally, Standpoint Research cut United Continental Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $68.77.

In related news, Director Walter Isaacson sold 2,638 shares of the stock in a transaction on Friday, December 9th. The stock was sold at an average price of $75.80, for a total value of $199,960.40. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at approximately $379,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Chris Kenny sold 3,824 shares of the stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $67.39, for a total value of $257,699.36. Following the completion of the sale, the vice president now owns 10,179 shares of the company’s stock, valued at $685,962.81. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

United Continental Holdings 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 an average of approximately 5,000 flights a day to over 340 airports across six continents 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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