4 Best Airline Stocks to Buy According to Hedge Funds

3. United Airlines Holdings, Inc. (NASDAQ:UAL)

Number of Hedge Fund Holders: 39

United Airlines Holdings, Inc (NASDAQ:UAL) is an airline holding company based in Illinois. The company provides provides transportation services for passengers and cargo, as well as satellite-based Wi-Fi through its overseas routes. Ranked third on our list of the 9 best airline stocks to buy according to hedge funds, United Airlines Holdings, Inc. (NASDAQ:UAL) has a market capitalization of $16.23 billion.

On the first week of October, the airline company rallied more than 3.5%, most likely due to Merck & Co., Inc (NYSE:MRK)’s antiviral pill, Molnupiravir, a cheap antiviral option, which could potentially lead to a faster end to the pandemic. For the second quarter of 2021, the airline company declared revenues of $5.47 billion, an increase of over 270.92% on a year-over-year basis, crossing forecast estimates by $116.02 million.

Earlier this July, MKM Partners analyst Conor Cunningham kept a Neutral rating on United Airlines Holdings, Inc. (NASDAQ:UAL) alongside a price target of $61.

By the end of the second quarter of 2021, 39 hedge funds out of the 873 tracked by Insider Monkey held stakes in United Airlines Holdings, Inc. (NASDAQ:UAL) worth roughly $704 million. This is compared to 38 hedge funds in the previous quarter with a total stake value of approximately $1.02 billion.