5 Small-Cap Stocks to Sell Now Before Recession Begins

2. Wheels Up Experience Inc. (NYSE:UP)

Number of Hedge Fund Holders: 24 

Market Cap as of May 27: $556 million 

Percentage Decline in Share Price Year-to-Date: 45.10%

Wheels Up Experience Inc. (NYSE:UP) provides private aviation services. The company posted earnings for the first quarter of 2022 on May 12, beating market expectations on earnings per share by $0.06. The revenue over the period was $325 million, up over 24% compared to the revenue over the same period last year and beating estimates by $24 million. The company owns and runs a fleet of around 1,500 aircrafts. It was founded in 2013 and is headquartered in New York. 

On May 13, BTIG analyst Marvin Fong maintained a Buy rating on Wheels Up Experience Inc. (NYSE:UP) stock and lowered the price target to $5.5 from $7, noting that margins have been a key issue for the firm but there had been some progress on that front. 

At the end of the first quarter of 2022, 24 hedge funds in the database of Insider Monkey held stakes worth $27 million in Wheels Up Experience Inc. (NYSE:UP), compared to 16 in the preceding quarter worth $33 million. 

Among the hedge funds being tracked by Insider Monkey, New York-based firm Millennium Management is a leading shareholder in Wheels Up Experience Inc. (NYSE:UP), with 1.5 million shares worth more than $4.8 million.