JetBlue Airways Corporation $JBLU Shares Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its JetBlue position by 235.9% in the first quarter, purchasing 1.58 million additional shares for a total holding of 2.25 million shares. Institutional investors and hedge funds collectively own 83.71% of JBLU.
• JetBlue reported a quarterly loss of $0.66 per share, slightly better than the $0.69 consensus estimate, while revenue rose 14.5% year over year to $2.70 billion. The company remains unprofitable, with a negative net margin of 9.32% and analysts expecting a full-year loss.
• Wall Street remains cautious: JBLU carries an average “Reduce” rating and a $5.54 average price target, despite recent targets ranging from $4.00 to $6.60. Shares opened at $6.03, near the top of their 12-month range.

Renaissance Technologies LLC raised its position in JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 235.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,246,200 shares of the transportation company's stock after buying an additional 1,577,500 shares during the period. Renaissance Technologies LLC owned approximately 0.60% of JetBlue Airways worth $9,928,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its stake in shares of JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company's stock worth $25,000 after acquiring an additional 3,373 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in JetBlue Airways by 639.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company's stock valued at $29,000 after purchasing an additional 5,049 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in JetBlue Airways during the 4th quarter valued at approximately $30,000. Leonteq Securities AG acquired a new stake in JetBlue Airways during the 4th quarter valued at approximately $32,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in JetBlue Airways during the 4th quarter worth approximately $41,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Price Performance

Shares of NASDAQ JBLU opened at $6.03 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 5.04. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -2.52 and a beta of 1.74. JetBlue Airways Corporation has a twelve month low of $3.87 and a twelve month high of $6.50. The business has a 50 day simple moving average of $5.45 and a 200-day simple moving average of $5.19.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.03. The firm had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $2.69 billion. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The firm's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the business posted ($0.21) earnings per share. As a group, equities research analysts expect that JetBlue Airways Corporation will post -2.33 earnings per share for the current year.

Insider Buying and Selling at JetBlue Airways

In other news, Director Vivek Sharma sold 32,000 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $5.41, for a total value of $173,120.00. Following the transaction, the director directly owned 35,479 shares in the company, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.41% of the company's stock.

Wall Street Analyst Weigh In

JBLU has been the subject of several research analyst reports. The Goldman Sachs Group increased their target price on JetBlue Airways from $3.50 to $4.50 and gave the company a "sell" rating in a research note on Thursday, July 2nd. UBS Group lifted their price target on shares of JetBlue Airways from $4.00 to $4.50 and gave the stock a "sell" rating in a research note on Tuesday, June 23rd. Citigroup upped their price target on shares of JetBlue Airways from $4.40 to $6.60 and gave the company a "neutral" rating in a report on Friday, June 26th. Raymond James Financial reissued an "underperform" rating on shares of JetBlue Airways in a report on Monday, July 6th. Finally, Bank of America boosted their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, JetBlue Airways has an average rating of "Reduce" and an average target price of $5.54.

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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