American Century Companies Inc. Sells 3,008,840 Shares of JetBlue Airways Corporation $JBLU

Key Points

• American Century Companies Inc. cut its position in JetBlue by 43.0%, selling 3,008,840 shares and retaining 3,985,131 shares (about 1.10% of the company) valued at $19.6 million at quarter-end.
• JetBlue missed EPS expectations (reported ($0.49) vs. ($0.45) expected), has negative margins and ROE, and Wall Street's consensus rating is "Reduce" with an average price target of $5.02 while the stock trades around $4.52.
• Several institutions also adjusted stakes—Par Capital and Ameriprise notably increased holdings and ING and CPP Investment Board established new positions—leaving institutional and hedge funds with 83.71% ownership of the stock.

American Century Companies Inc. cut its position in JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 43.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,985,131 shares of the transportation company's stock after selling 3,008,840 shares during the quarter. American Century Companies Inc. owned about 1.10% of JetBlue Airways worth $19,607,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JBLU. Par Capital Management Inc. lifted its position in shares of JetBlue Airways by 105.3% during the 2nd quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company's stock valued at $23,212,000 after acquiring an additional 2,814,870 shares during the period. Ameriprise Financial Inc. grew its stake in JetBlue Airways by 154.1% during the second quarter. Ameriprise Financial Inc. now owns 1,660,015 shares of the transportation company's stock worth $7,022,000 after buying an additional 1,006,850 shares in the last quarter. ING Groep NV bought a new position in JetBlue Airways in the 3rd quarter valued at about $4,920,000. Canada Pension Plan Investment Board bought a new position in JetBlue Airways in the 2nd quarter valued at about $2,961,000. Finally, Soviero Asset Management LP bought a new stake in shares of JetBlue Airways during the 2nd quarter worth approximately $2,369,000. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $4.52 on Tuesday. The firm has a 50 day moving average of $5.33 and a 200-day moving average of $4.95. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -2.71 and a beta of 1.71. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 3.65. JetBlue Airways Corporation has a 52 week low of $3.34 and a 52 week high of $6.50.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. JetBlue Airways had a negative return on equity of 25.62% and a negative net margin of 6.64%.The firm's revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) earnings per share. On average, equities analysts forecast that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on JBLU shares. The Goldman Sachs Group lifted their price objective on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a "sell" rating in a research note on Tuesday, January 13th. Evercore increased their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company an "in-line" rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 28th. Citigroup upgraded shares of JetBlue Airways from a "sell" rating to a "neutral" rating and set a $6.00 price target for the company in a report on Tuesday, February 3rd. Finally, TD Cowen dropped their price target on JetBlue Airways from $5.00 to $4.00 and set a "hold" rating for the company in a research note on Monday. Seven analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, JetBlue Airways presently has an average rating of "Reduce" and an average price target of $5.02.

JetBlue Airways Profile

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline's core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.

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