BlackRock Inc. lessened its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,959,377 shares of the transportation company’s stock after selling 579,223 shares during the quarter. BlackRock Inc. owned approximately 8.76% of JetBlue Airways worth $479,988,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Executive Wealth Management LLC purchased a new stake in JetBlue Airways in the second quarter worth $37,000. Private Capital Group LLC lifted its stake in JetBlue Airways by 130.2% in the second quarter. Private Capital Group LLC now owns 2,044 shares of the transportation company’s stock worth $39,000 after acquiring an additional 1,156 shares during the period. FinTrust Capital Advisors LLC lifted its stake in JetBlue Airways by 81.4% in the second quarter. FinTrust Capital Advisors LLC now owns 2,422 shares of the transportation company’s stock worth $45,000 after acquiring an additional 1,087 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in JetBlue Airways in the second quarter worth $59,000. Finally, Advisory Services Network LLC lifted its stake in JetBlue Airways by 17.3% in the second quarter. Advisory Services Network LLC now owns 6,852 shares of the transportation company’s stock worth $127,000 after acquiring an additional 1,011 shares during the period. 96.28% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Stephen J. Priest sold 1,810 shares of JetBlue Airways stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $19.28, for a total value of $34,896.80. Following the completion of the sale, the chief financial officer now directly owns 21,850 shares in the company, valued at approximately $421,268. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robin Hayes sold 2,500 shares of JetBlue Airways stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $17.02, for a total value of $42,550.00. Following the completion of the sale, the chief executive officer now owns 470,893 shares of the company’s stock, valued at $8,014,598.86. The disclosure for this sale can be found here. Insiders have sold 12,810 shares of company stock valued at $235,607 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.
JBLU has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on JetBlue Airways from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Thursday, October 10th. ValuEngine raised JetBlue Airways from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 31st. Buckingham Research upgraded JetBlue Airways from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $22.00 in a report on Monday, October 7th. TheStreet upgraded JetBlue Airways from a “c+” rating to a “b-” rating in a report on Monday, November 11th. Finally, Cowen decreased their price objective on JetBlue Airways from $20.00 to $19.00 and set a “market perform” rating for the company in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.36.
Shares of NASDAQ:JBLU traded up $0.52 on Wednesday, hitting $19.32. 12,862,600 shares of the company traded hands, compared to its average volume of 4,581,702. JetBlue Airways Co. has a 52 week low of $15.19 and a 52 week high of $19.93. The company has a quick ratio of 0.50, a current ratio of 0.53 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $18.95 and a 200-day simple moving average of $18.26. The company has a market cap of $5.55 billion, a PE ratio of 12.46, a PEG ratio of 0.59 and a beta of 0.78.
JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. JetBlue Airways had a return on equity of 12.03% and a net margin of 7.19%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the company earned $0.43 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that JetBlue Airways Co. will post 1.93 earnings per share for the current year.
JetBlue Airways Profile
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.
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