ING Groep NV Invests $4.82 Million 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 purchased a new stake in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,000,000 shares of the transportation company's stock, valued at approximately $4,820,000. ING Groep NV owned about 0.28% of JetBlue Airways as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL increased its position in 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 worth $73,000 after acquiring an additional 8,847 shares during the period. Sterling Capital Management LLC grew its position in JetBlue Airways by 833.0% in the 4th quarter. Sterling Capital Management LLC now owns 9,843 shares of the transportation company's stock worth $77,000 after purchasing an additional 8,788 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of JetBlue Airways during the 4th quarter worth about $79,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of JetBlue Airways during the 1st quarter worth about $53,000. Finally, Vise Technologies Inc. acquired a new position in shares of JetBlue Airways during the fourth quarter valued at about $89,000. Institutional investors own 83.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Raymond James Financial downgraded JetBlue Airways from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Citigroup set a $5.00 price objective on JetBlue Airways and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Barclays reissued an "underweight" rating on shares of JetBlue Airways in a report on Tuesday, July 29th. UBS Group set a $3.00 target price on JetBlue Airways and gave the company a "sell" rating in a research note on Monday, July 7th. Finally, Wall Street Zen raised JetBlue Airways to a "sell" rating in a research report on Thursday, May 15th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.16.

JetBlue Airways Price Performance

Shares of JetBlue Airways stock traded down $0.02 during midday trading on Thursday, hitting $4.32. 9,349,880 shares of the company were exchanged, compared to its average volume of 19,160,238. The firm has a 50 day simple moving average of $4.49 and a 200-day simple moving average of $5.10. 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 firm has a market cap of $1.57 billion, a P/E ratio of -3.93 and a beta of 1.80. JetBlue Airways Corporation has a 52 week low of $3.34 and a 52 week high of $8.31.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.15. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.26 billion. JetBlue Airways had a negative return on equity of 15.59% and a negative net margin of 4.22%. Research analysts forecast 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.