JetBlue Airways Corporation $JBLU Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its JetBlue stake by 9.5% in the first quarter, selling 174,252 shares and ending with 1,650,794 shares worth about $7.3 million.
• Several insiders sold shares as well, including Director Vivek Sharma and Director Thomas Winkelmann, while institutional investors still hold about 83.71% of the stock.
• JetBlue posted a Q1 earnings miss, reporting EPS of -$0.87 versus expectations of -$0.72, and analysts currently have a consensus rating of “Reduce” with an average price target of $5.23.

Assenagon Asset Management S.A. lowered its holdings in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 9.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,650,794 shares of the transportation company's stock after selling 174,252 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.44% of JetBlue Airways worth $7,297,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Rockefeller Capital Management L.P. grew its stake in JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company's stock valued at $25,000 after acquiring an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in JetBlue Airways by 639.1% during 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 in the last quarter. Kestra Advisory Services LLC purchased a new position in JetBlue Airways during the fourth quarter valued at $30,000. Leonteq Securities AG acquired a new stake in shares of JetBlue Airways in the fourth quarter valued at about $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of JetBlue Airways in the fourth quarter valued at about $41,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, Director Vivek Sharma sold 32,000 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the completion of the sale, the director directly owned 35,479 shares of the company's stock, valued at $191,941.39. This trade represents a 47.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Winkelmann sold 35,473 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $4.70, for a total transaction of $166,723.10. Following the sale, the director owned 13,379 shares of the company's stock, valued at approximately $62,881.30. The trade was a 72.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on JBLU. Weiss Ratings reissued a "sell (d-)" rating on shares of JetBlue Airways in a research note on Tuesday, April 21st. BMO Capital Markets initiated coverage on JetBlue Airways in a report on Tuesday, March 24th. They issued a "market perform" rating and a $4.50 price objective on the stock. Citigroup lifted their price objective on JetBlue Airways from $4.40 to $6.60 and gave the stock a "neutral" rating in a report on Friday. Seaport Research Partners upgraded JetBlue Airways from a "neutral" rating to a "buy" rating and set a $8.00 price objective for the company in a research note on Thursday, April 16th. Finally, TD Cowen raised JetBlue Airways from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $5.23.

JetBlue Airways Price Performance

Shares of NASDAQ JBLU opened at $6.00 on Monday. The firm has a 50-day simple moving average of $5.13 and a 200-day simple moving average of $5.05. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 4.25. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -3.09 and a beta of 1.73. JetBlue Airways Corporation has a 52 week low of $3.87 and a 52 week high of $6.50.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.15). The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The firm's revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.59) EPS. On average, equities analysts predict that JetBlue Airways Corporation will post -2.67 earnings per share for the current fiscal year.

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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