JetBlue Airways Corporation $JBLU Stake Boosted by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its JetBlue stake by 2,765.4% in the second quarter, holding 776,272 shares worth approximately $4.4 million. Institutional investors collectively own 83.71% of JBLU.
• Analyst sentiment remains negative: JetBlue has an average “Reduce” rating, with six Holds and six Sells, and a consensus price target of $5.46. Several analysts recently lowered their ratings or price targets.
• JetBlue reported a quarterly loss of $0.66 per share, slightly better than estimates, while revenue rose 14.5% year over year to $2.70 billion. The stock opened at $4.39, and the company continues to face high leverage and negative profitability metrics.

Hsbc Holdings PLC increased its stake in JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 2,765.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 776,272 shares of the transportation company's stock after purchasing an additional 749,181 shares during the period. Hsbc Holdings PLC owned 0.21% of JetBlue Airways worth $4,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brasada Capital Management LP acquired a new stake in JetBlue Airways in the second quarter worth $80,000. Public Employees Retirement System of Ohio acquired a new stake in shares of JetBlue Airways in the 2nd quarter worth about $1,428,000. Corient Private Wealth LP acquired a new stake in shares of JetBlue Airways in the 2nd quarter worth about $146,000. Parallax Volatility Advisers L.P. bought a new stake in JetBlue Airways in the 2nd quarter valued at about $90,000. Finally, Bank of America Corp DE bought a new stake in JetBlue Airways in the 2nd quarter valued at about $20,022,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on JBLU shares. Wall Street Zen lowered JetBlue Airways from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of JetBlue Airways in a research report on Friday, July 17th. TD Cowen decreased their price target on JetBlue Airways from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Monday, August 24th. The Goldman Sachs Group raised their price target on JetBlue Airways from $3.50 to $4.50 and gave the company a "sell" rating in a report on Thursday, July 2nd. Finally, Citigroup cut shares of JetBlue Airways from a "neutral" rating to a "sell" rating and cut their price objective for the company from $6.60 to $5.30 in a research note on Friday, August 7th. Six research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $5.46.

Insider Buying and Selling at JetBlue Airways

In related news, CFO Ursula Hurley sold 77,253 shares of JetBlue Airways stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total value of $444,977.28. Following the transaction, the chief financial officer directly owned 211,099 shares in the company, valued at $1,215,930.24. The trade was a 26.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 81,253 shares of company stock worth $465,897. Company insiders own 2.41% of the company's stock.

JetBlue Airways Stock Up 0.2%

NASDAQ JBLU opened at $4.39 on Friday. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63. The company's 50 day simple moving average is $5.37 and its 200 day simple moving average is $5.12. JetBlue Airways Corporation has a 12 month low of $3.87 and a 12 month high of $6.62. The company has a market capitalization of $1.66 billion, a P/E ratio of -1.84 and a beta of 1.70.

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