Allianz Asset Management GmbH Sells 1,015,976 Shares of JetBlue Airways Corporation (NASDAQ:JBLU)

Key Points

• Allianz Asset Management GmbH has reduced its stake in JetBlue Airways by 24%, selling over 1 million shares, and now owns approximately 0.91% of the airline valued at $15.49 million.
• Institutional investors collectively own 83.71% of JetBlue’s stock, with several firms like Vanguard and FMR LLC making significant increases in their holdings during the last quarter.
• JetBlue reported a quarterly loss with an EPS of ($0.59), slightly better than expectations, alongside a 3.1% decline in revenue compared to the same period last year.

Allianz Asset Management GmbH lowered its holdings in JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 24.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,213,937 shares of the transportation company's stock after selling 1,015,976 shares during the period. Allianz Asset Management GmbH owned about 0.91% of JetBlue Airways worth $15,491,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of JetBlue Airways by 14,595.7% in the fourth quarter. FMR LLC now owns 16,599,279 shares of the transportation company's stock worth $130,470,000 after buying an additional 16,486,326 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of JetBlue Airways by 491.7% during the fourth quarter. Renaissance Technologies LLC now owns 4,274,457 shares of the transportation company's stock worth $33,597,000 after purchasing an additional 3,552,057 shares during the period. Nomura Holdings Inc. boosted its holdings in shares of JetBlue Airways by 3,729.9% during the fourth quarter. Nomura Holdings Inc. now owns 3,436,202 shares of the transportation company's stock worth $27,009,000 after purchasing an additional 3,346,482 shares during the period. Voloridge Investment Management LLC lifted its stake in JetBlue Airways by 60.8% in the fourth quarter. Voloridge Investment Management LLC now owns 5,203,155 shares of the transportation company's stock valued at $40,897,000 after acquiring an additional 1,968,343 shares during the last quarter. Finally, Norges Bank acquired a new stake in JetBlue Airways in the fourth quarter valued at approximately $14,624,000. Institutional investors and hedge funds own 83.71% of the company's stock.

JetBlue Airways Price Performance

NASDAQ JBLU traded up $0.12 on Tuesday, hitting $4.48. 28,272,953 shares of the company were exchanged, compared to its average volume of 24,666,797. The firm has a 50 day moving average of $4.59 and a two-hundred day moving average of $5.24. The company has a market cap of $1.59 billion, a P/E ratio of -5.40 and a beta of 1.76. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 3.31. JetBlue Airways Corporation has a 1-year low of $3.34 and a 1-year high of $8.31.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.21. JetBlue Airways had a negative net margin of 3.12% and a negative return on equity of 11.93%. On average, equities analysts predict that JetBlue Airways Corporation will post -0.69 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on JBLU shares. UBS Group set a $3.00 target price on shares of JetBlue Airways and gave the company a "sell" rating in a research note on Monday, July 7th. Susquehanna reiterated a "neutral" rating on shares of JetBlue Airways in a research note on Tuesday. Barclays reiterated an "underweight" rating on shares of JetBlue Airways in a research note on Tuesday. Wall Street Zen upgraded shares of JetBlue Airways to a "sell" rating in a research note on Thursday, May 15th. Finally, Raymond James Financial lowered shares of JetBlue Airways from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $5.16.

JetBlue Airways Company 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.