Raymond James Financial Inc. Makes New Investment in JetBlue Airways Co. (NASDAQ:JBLU)

Raymond James Financial Inc. bought a new position in JetBlue Airways Co. (NASDAQ:JBLU - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 228,510 shares of the transportation company's stock, valued at approximately $1,796,000. Raymond James Financial Inc. owned approximately 0.07% of JetBlue Airways at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in JetBlue Airways by 130.8% during the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company's stock valued at $35,000 after buying an additional 2,538 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of JetBlue Airways during the 4th quarter valued at about $40,000. Bogart Wealth LLC grew its holdings in shares of JetBlue Airways by 67.8% during the fourth quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company's stock worth $55,000 after purchasing an additional 2,850 shares in the last quarter. R Squared Ltd bought a new position in shares of JetBlue Airways in the fourth quarter worth approximately $58,000. Finally, GAMMA Investing LLC raised its stake in JetBlue Airways by 85.8% in the fourth quarter. GAMMA Investing LLC now owns 8,353 shares of the transportation company's stock valued at $66,000 after purchasing an additional 3,857 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

JetBlue Airways Trading Up 1.5 %

JetBlue Airways stock traded up $0.07 during trading hours on Wednesday, reaching $4.47. The stock had a trading volume of 22,954,352 shares, compared to its average volume of 19,348,647. The company has a fifty day simple moving average of $4.73 and a 200-day simple moving average of $6.15. JetBlue Airways Co. has a 52 week low of $3.34 and a 52 week high of $8.31. The stock has a market cap of $1.58 billion, a PE ratio of -1.91 and a beta of 1.79. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.10 and a quick ratio of 1.18.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its earnings results on Tuesday, April 29th. The transportation company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.02. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same period last year, the firm earned ($0.43) earnings per share. JetBlue Airways's quarterly revenue was down 3.1% on a year-over-year basis. Analysts forecast that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ursula L. Hurley sold 15,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total value of $112,500.00. Following the completion of the sale, the chief financial officer now directly owns 41,833 shares of the company's stock, valued at approximately $313,747.50. This trade represents a 26.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

JBLU has been the subject of a number of research reports. Citigroup boosted their price target on shares of JetBlue Airways from $4.25 to $5.00 and gave the stock a "neutral" rating in a research note on Monday. Bank of America reduced their target price on JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft lowered JetBlue Airways from a "buy" rating to a "hold" rating and dropped their price target for the stock from $9.00 to $7.00 in a research note on Tuesday, March 4th. Raymond James upgraded JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research report on Monday, April 7th. Finally, Susquehanna dropped their target price on JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, JetBlue Airways has an average rating of "Hold" and a consensus target price of $5.16.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.