Bank of New York Mellon Corp Trims Stock Position in JetBlue Airways Corporation (NASDAQ:JBLU)

Bank of New York Mellon Corp decreased its position in JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,277,825 shares of the transportation company's stock after selling 75,132 shares during the period. Bank of New York Mellon Corp owned approximately 0.64% of JetBlue Airways worth $10,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JBLU. Patriot Financial Group Insurance Agency LLC purchased a new position in JetBlue Airways in the 1st quarter worth $53,000. Teacher Retirement System of Texas purchased a new position in shares of JetBlue Airways during the 1st quarter valued at about $61,000. Strategic Investment Solutions Inc. IL raised its stake in shares of JetBlue Airways by 1,769.4% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 9,347 shares of the transportation company's stock valued at $73,000 after buying an additional 8,847 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of JetBlue Airways by 833.0% during the 4th quarter. Sterling Capital Management LLC now owns 9,843 shares of the transportation company's stock valued at $77,000 after buying an additional 8,788 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of JetBlue Airways during the 4th quarter valued at about $79,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on JBLU shares. UBS Group set a $3.00 price objective on JetBlue Airways and gave the company a "sell" rating in a research note on Monday, July 7th. Raymond James Financial lowered JetBlue Airways from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Susquehanna dropped their target price 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. Wall Street Zen upgraded JetBlue Airways to a "sell" rating in a research report on Thursday, May 15th. Finally, Barclays dropped their target price on JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. Based on data from MarketBeat, JetBlue Airways presently has a consensus rating of "Hold" and a consensus target price of $5.16.

JetBlue Airways Price Performance

JBLU stock traded down $0.27 during trading on Thursday, hitting $4.36. The stock had a trading volume of 24,644,703 shares, compared to its average volume of 16,141,480. The company has a debt-to-equity ratio of 3.31, a current ratio of 1.01 and a quick ratio of 0.97. JetBlue Airways Corporation has a twelve month low of $3.34 and a twelve month high of $8.31. The stock has a market capitalization of $1.54 billion, a P/E ratio of -5.32 and a beta of 1.76. The company's 50-day moving average price is $4.62 and its two-hundred day moving average price is $5.32.

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

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.