Why You Should Care When Hedge Funds Invest in Ultra Petroleum Corp. (UPL)

Ultra Petroleum Corp. (NASDAQ:UPL) marched up 63.98% compared to a 52-week low price of $0.56. The shares were last seen trading -2.66% lower, taking the closing price at $0.92 on 01/11/2019. At recent session, the prices were hovering between $0.9001 and $0.9482. This company shares are 182.61% off its target price of $2.6 and the current market capitalization stands at $186.18M. The recent change has given its price a -23.1% deficit over SMA 50 and -89.43% deficit over its 52-week high. The stock witnessed -14.82% declines, -36.56% declines and -49.46% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found UPL’s volatility during a week at 7.8% and during a month it has been found around 14.78%.

Ultra Petroleum Corp. (UPL) Top Holders

Institutional investors currently hold around $154 million or 84.4% in UPL stock. Look at its top three institutional owners. Fir Tree Capital Management Lp owns $33.47 million in Ultra Petroleum Corp., which represents roughly 17.98% of the company’s market cap and approximately 21.73% of the institutional ownership. Similar statistics are true for the second largest owner, Credit Suisse Ag/, which owns 16,664,617 shares of the stock are valued at $15.33 million. The third largest holder is Disciplined Growth Investors Inc /Mn, which currently holds $14.08 million worth of this stock and that ownership represents nearly 7.56% of its market capitalization.

Ultra Petroleum Corp. 13F Filings

At the end of September reporting period, 56 institutional holders increased their position in Ultra Petroleum Corp. (NASDAQ:UPL) by some 12,923,503 shares, 69 decreased positions by 28,283,696 and 33 held positions by 125,839,947. That puts total institutional holdings at 167,047,146 shares, according to SEC filings. The stock grabbed 19 new institutional investments totaling 1,438,730 shares while 25 institutional investors sold out their entire positions totaling 9,003,272 shares.

Ultra Petroleum Corp. (NASDAQ:UPL) Insider Trades

Multiple company employees have indulged in significant insider trading. Ultra Petroleum Corp. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that 10% Owner Fir Tree Inc. has acquired 100,000 shares of Ultra Petroleum Corp. (UPL) in trading session dated Sep. 01, 2017. These shares are worth $800,000 and were traded at $8 each. The SEC filing shows that Fir Tree Inc. performed a purchase of 1,323,900 shares. The 10% Owner added these shares by way of transaction on Aug. 31, 2017. The company’s shares were assimilated at $7.81 per share worth to an investment of some $10,339,659 on account of Fir Tree Inc..

10% Owner, Fir Tree Inc., purchased 1,549,899 common shares of Ultra Petroleum Corp. (UPL) in the open market. In a transaction dated Aug. 28, 2017, the shares were bought at an average price of $7.85, giving away a sum of $12,166,707. After this purchase, 34,955,650 common shares of UPL are directly owned by the insider, with total stake valued at $32,159,198.

In the transaction dated Aug. 23, 2017, the great number of shares acquired came courtesy the 10% Owner; Fir Tree Inc. added a total of 3,044,821 shares at an average price of $8.16, amounting to approximately $24,845,739. The insider now directly owns 33,405,751 shares worth $30,733,291.

Ultra Petroleum Corp. (UPL) Analyst Guide

Several analysts have released their opinion on Ultra Petroleum Corp. (NASDAQ:UPL), with 0 analysts believing it is a strong buy. Whereas 1 of them predict the stock is a hold. Also, there are 0 buy, 1 sell and 0 strong sell ratings, collectively assigning a 3.5 average brokerage recommendation.