Connor Clark & Lunn Investment Management Ltd. Increases Holdings in JetBlue Airways Corporation (NASDAQ:JBLU)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in JetBlue Airways by 85.0%, acquiring an additional 717,230 shares, bringing their total to 1,560,958 shares valued at approximately $7.5 million.
• Despite the acquisition, JetBlue's stock dropped 1.4%, currently trading at a price of $4.27, with analysts predicting a challenging outlook with multiple 'sell' and 'hold' ratings.
• JetBlue reported earnings of ($0.16) EPS, beating estimates, and generated revenue of $2.36 billion, surpassing analyst expectations, but has a negative net margin and return on equity.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 85.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,560,958 shares of the transportation company's stock after purchasing an additional 717,230 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.44% of JetBlue Airways worth $7,524,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of JBLU. Strategic Investment Solutions Inc. IL lifted its holdings in shares of JetBlue Airways by 1,769.4% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 9,347 shares of the transportation company's stock valued at $73,000 after purchasing an additional 8,847 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of JetBlue Airways by 833.0% during the fourth quarter. Sterling Capital Management LLC now owns 9,843 shares of the transportation company's stock valued at $77,000 after purchasing an additional 8,788 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of JetBlue Airways during the fourth quarter valued at approximately $79,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of JetBlue Airways during the first quarter valued at approximately $53,000. Finally, Vise Technologies Inc. purchased a new position in JetBlue Airways in the 4th quarter worth approximately $89,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

JetBlue Airways Stock Performance

Shares of NASDAQ:JBLU traded up $0.14 during midday trading on Friday, hitting $5.22. The company had a trading volume of 20,977,949 shares, compared to its average volume of 19,053,204. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -4.75 and a beta of 1.80. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.88 and a quick ratio of 0.84. The company has a fifty day moving average of $4.45 and a two-hundred day moving average of $4.98. JetBlue Airways Corporation has a 12-month low of $3.34 and a 12-month high of $8.31.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its earnings results on Tuesday, July 29th. The transportation company reported ($0.16) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.26 billion. On average, equities research analysts expect that JetBlue Airways Corporation will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

JBLU has been the subject of a number of recent analyst reports. Citigroup set a $5.00 price objective on shares of JetBlue Airways and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Barclays restated an "underweight" rating on shares of JetBlue Airways in a report on Tuesday, July 29th. UBS Group set a $3.00 price objective on shares of JetBlue Airways and gave the stock a "sell" rating in a report on Monday, July 7th. Susquehanna reissued a "neutral" rating on shares of JetBlue Airways in a report on Tuesday, July 29th. Finally, Raymond James Financial cut JetBlue Airways from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.16.

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.