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 lessened its holdings in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 24.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 0.91% of JetBlue Airways worth $15,491,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Penserra Capital Management LLC increased its position in JetBlue Airways by 15.0% during the 1st quarter. Penserra Capital Management LLC now owns 25,339 shares of the transportation company's stock valued at $122,000 after buying an additional 3,302 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of JetBlue Airways in the 1st quarter worth about $130,000. Principal Financial Group Inc. boosted its stake in JetBlue Airways by 4.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,512,443 shares of the transportation company's stock worth $7,290,000 after purchasing an additional 64,847 shares in the last quarter. Teacher Retirement System of Texas bought a new position in JetBlue Airways in the 1st quarter worth about $61,000. Finally, Illinois Municipal Retirement Fund grew its position in JetBlue Airways by 40.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 176,876 shares of the transportation company's stock valued at $853,000 after purchasing an additional 50,606 shares during the last quarter. Institutional investors own 83.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on JBLU shares. Bank of America decreased their target price on shares of JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Susquehanna lowered their price objective on JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. UBS Group set a $3.00 target price on JetBlue Airways and gave the stock a "sell" rating in a report on Monday, July 7th. Barclays decreased their price target on JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Finally, Wall Street Zen upgraded JetBlue Airways to a "sell" rating in a report on Thursday, May 15th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.16.

JetBlue Airways Stock Performance

Shares of NASDAQ JBLU traded down $0.05 during trading on Monday, hitting $4.34. The company had a trading volume of 7,277,635 shares, compared to its average volume of 24,605,824. The firm has a market capitalization of $1.54 billion, a P/E ratio of -5.29 and a beta of 1.76. JetBlue Airways Corporation has a 12 month low of $3.34 and a 12 month high of $8.31. The stock has a 50 day simple moving average of $4.61 and a 200 day simple moving average of $5.27. The company has a debt-to-equity ratio of 3.31, a quick ratio of 0.97 and a current ratio of 1.01.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The transportation company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.61) by $0.02. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. JetBlue Airways had a negative net margin of 3.12% and a negative return on equity of 11.93%. The company's revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm posted ($0.43) EPS. As a group, analysts anticipate that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

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.