Wellington Management Group LLP Acquires New Position in JetBlue Airways Corporation $JBLU

Key Points

• Wellington Management Group LLP acquired 815,653 shares of JetBlue Airways Corporation, valued at approximately $3,931,000, during the first quarter, representing about 0.23% ownership of the company.
• JetBlue reported a negative EPS of ($0.16) for the last quarter, surpassing the consensus estimate, with revenues reaching $2.36 billion.
• Analysts have provided mixed ratings for JetBlue Airways, with target prices ranging from $3.00 to $5.00, indicating a cautious outlook on the stock.

Wellington Management Group LLP bought a new stake in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 815,653 shares of the transportation company's stock, valued at approximately $3,931,000. Wellington Management Group LLP owned about 0.23% of JetBlue Airways at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. American Century Companies Inc. raised its stake in JetBlue Airways by 7.8% during the first quarter. American Century Companies Inc. now owns 9,457,873 shares of the transportation company's stock worth $45,587,000 after acquiring an additional 685,880 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of JetBlue Airways by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,964,013 shares of the transportation company's stock worth $33,567,000 after purchasing an additional 238,342 shares during the period. Voloridge Investment Management LLC lifted its holdings in shares of JetBlue Airways by 60.8% in the 4th quarter. Voloridge Investment Management LLC now owns 5,203,155 shares of the transportation company's stock worth $40,897,000 after purchasing an additional 1,968,343 shares during the last quarter. Invesco Ltd. boosted its position in JetBlue Airways by 0.8% during the 1st quarter. Invesco Ltd. now owns 4,100,391 shares of the transportation company's stock valued at $19,764,000 after purchasing an additional 31,281 shares during the period. Finally, Nomura Holdings Inc. boosted its position in JetBlue Airways by 3,729.9% during the 4th quarter. Nomura Holdings Inc. now owns 3,436,202 shares of the transportation company's stock valued at $27,009,000 after purchasing an additional 3,346,482 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JBLU has been the subject of several analyst reports. Wall Street Zen raised shares of JetBlue Airways to a "sell" rating in a report on Thursday, May 15th. Citigroup set a $5.00 price target on JetBlue Airways and gave the company a "neutral" rating in a report on Tuesday, July 29th. Susquehanna reissued a "neutral" rating on shares of JetBlue Airways in a report on Tuesday, July 29th. UBS Group set a $3.00 target price on JetBlue Airways and gave the company a "sell" rating in a research note on Monday, July 7th. Finally, Raymond James Financial cut JetBlue Airways from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, JetBlue Airways currently has an average rating of "Reduce" and a consensus target price of $5.16.

JetBlue Airways Trading Down 6.6%

Shares of NASDAQ:JBLU traded down $0.36 during midday trading on Thursday, reaching $5.09. The company had a trading volume of 26,841,747 shares, compared to its average volume of 15,856,661. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.84 and a current ratio of 0.88. JetBlue Airways Corporation has a 1-year low of $3.34 and a 1-year high of $8.31. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -4.63 and a beta of 1.81. The company has a fifty day simple moving average of $4.69 and a two-hundred day simple moving average of $4.87.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.15. JetBlue Airways had a negative net margin of 4.22% and a negative return on equity of 15.59%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.26 billion. Research analysts predict that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

JetBlue Airways Profile

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.