JetBlue Airways Corporation $JBLU Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in JetBlue Airways by 4.6%, owning approximately 3,060,034 shares valued at $14.7 million at the end of the recent quarter.
• The stock price of JetBlue Airways was down 0.7%, with a current trading price of $5.45 and a market cap of $1.98 billion.
• JetBlue reported a loss of $0.16 per share in its latest quarterly earnings, surpassing analyst expectations of a greater loss.

Northern Trust Corp trimmed its holdings in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,060,034 shares of the transportation company's stock after selling 149,220 shares during the quarter. Northern Trust Corp owned approximately 0.86% of JetBlue Airways worth $14,749,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC purchased a new position in JetBlue Airways in the first quarter worth $53,000. Teacher Retirement System of Texas purchased a new position in JetBlue Airways in the first quarter worth $61,000. Caitong International Asset Management Co. Ltd grew its holdings in JetBlue Airways by 201.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 15,733 shares of the transportation company's stock worth $76,000 after purchasing an additional 10,519 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in JetBlue Airways in the first quarter worth $78,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in JetBlue Airways in the fourth quarter worth $79,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on JBLU shares. Barclays reaffirmed an "underweight" rating on shares of JetBlue Airways in a report on Tuesday, July 29th. Susquehanna reaffirmed a "neutral" rating on shares of JetBlue Airways in a report on Tuesday, July 29th. Citigroup set a $5.00 price target on shares of JetBlue Airways and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of JetBlue Airways to a "sell" rating in a research note on Thursday, May 15th. Finally, UBS Group lifted their price objective on shares of JetBlue Airways from $3.00 to $4.00 and gave the stock a "sell" rating in a research note on Friday. Eight research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $5.16.

JetBlue Airways Stock Performance

Shares of NASDAQ:JBLU traded up $0.10 on Tuesday, hitting $5.28. 4,389,504 shares of the company were exchanged, compared to its average volume of 23,550,855. JetBlue Airways Corporation has a 1-year low of $3.34 and a 1-year high of $8.31. The stock's 50 day moving average price is $4.73 and its 200 day moving average price is $4.80. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 3.21. The firm has a market capitalization of $1.92 billion, a P/E ratio of -4.80 and a beta of 1.81.

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

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.