ING Groep NV Makes New Investment in JetBlue Airways Corporation (NASDAQ:JBLU)

Key Points

• ING Groep NV has invested approximately $4.82 million in JetBlue Airways by acquiring 1,000,000 shares, representing about 0.28% of the company's stock.
• Recent analytical reports express a cautious outlook for JetBlue, with multiple downgrade ratings, including a "sell" rating from UBS Group and a "hold" rating consensus.
• JetBlue reported a loss of $0.16 EPS in its most recent quarterly earnings, surpassing analysts’ expectations while generating revenues of $2.36 billion, exceeding consensus estimates.

ING Groep NV acquired a new position in JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,000,000 shares of the transportation company's stock, valued at approximately $4,820,000. ING Groep NV owned approximately 0.28% of JetBlue Airways at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in JBLU. Patriot Financial Group Insurance Agency LLC acquired a new stake in JetBlue Airways during the 1st quarter worth about $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, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of JetBlue Airways during the 1st quarter valued at about $78,000. Institutional investors and hedge funds own 83.71% of the company's stock.

JetBlue Airways Price Performance

Shares of JetBlue Airways stock traded up $0.01 on Friday, hitting $4.33. The company's stock had a trading volume of 13,444,209 shares, compared to its average volume of 17,888,866. JetBlue Airways Corporation has a 1 year low of $3.34 and a 1 year high of $8.31. The firm has a fifty day moving average price of $4.47 and a 200-day moving average price of $5.05. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.84 and a current ratio of 0.88. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.94 and a beta of 1.80.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The transportation company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.15. JetBlue Airways had a negative return on equity of 15.59% and a negative net margin of 4.22%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.26 billion. As a group, sell-side analysts anticipate that JetBlue Airways Corporation will post -0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. 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. Wall Street Zen upgraded JetBlue Airways to a "sell" rating in a research note on Thursday, May 15th. Susquehanna reiterated a "neutral" rating on shares of JetBlue Airways in a research note on Tuesday, July 29th. Raymond James Financial lowered JetBlue Airways from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Finally, Citigroup set a $5.00 price objective on JetBlue Airways and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, JetBlue Airways has an average rating of "Hold" and an average price target of $5.16.

JetBlue Airways 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.