JetBlue Airways Corporation $JBLU Stock Position Lifted by U S Global Investors Inc.

Key Points

• U.S. Global Investors increased its JetBlue stake by 8.4% in the third quarter, adding 505,067 shares to own 6.5 million shares valued at approximately $27.5 million. Institutional investors collectively own 83.71% of JBLU.
• JetBlue shares opened at $2.65, near their 52-week low of $2.40, while the airline reported a quarterly loss of $0.66 per share despite revenue of $2.70 billion, up 14.5% year over year.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating from nine Holds and four Sells and an average price target of $4.98. The company also faces significant leverage, with a debt-to-equity ratio of 5.04.

U S Global Investors Inc. lifted its holdings in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,501,298 shares of the transportation company's stock after acquiring an additional 505,067 shares during the period. JetBlue Airways makes up 2.7% of U S Global Investors Inc.'s holdings, making the stock its 9th biggest holding. U S Global Investors Inc. owned 1.72% of JetBlue Airways worth $27,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in JBLU. Bank of America Corp DE acquired a new stake in shares of JetBlue Airways in the 2nd quarter worth about $20,022,000. Primecap Management Co. CA acquired a new position in JetBlue Airways during the 2nd quarter valued at about $13,549,000. Bank of New York Mellon Corp acquired a new position in JetBlue Airways during the 2nd quarter valued at about $11,336,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in JetBlue Airways during the 2nd quarter valued at about $10,748,000. Finally, Renaissance Technologies LLC boosted its stake in JetBlue Airways by 235.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company's stock valued at $9,928,000 after purchasing an additional 1,577,500 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

JetBlue Airways Stock Down 9.6%

JBLU opened at $2.65 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 moving average is $4.26 and its 200 day moving average is $4.96. JetBlue Airways Corporation has a fifty-two week low of $2.40 and a fifty-two week high of $6.62.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The business had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same period in the previous year, the company earned ($0.21) earnings per share. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, research analysts anticipate that JetBlue Airways Corporation will post -2.77 EPS for the current fiscal year.

Analyst Ratings Changes

JBLU has been the subject of a number of recent research reports. Bank of America boosted their price objective on JetBlue Airways from $3.50 to $4.00 and gave the stock an "underperform" rating in a report on Wednesday, July 1st. The Goldman Sachs Group raised their target price on JetBlue Airways from $3.50 to $4.50 and gave the company a "sell" rating in a report on Thursday, July 2nd. Barclays cut their target price on JetBlue Airways from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Friday, September 11th. Citigroup raised JetBlue Airways from a "sell" rating to a "neutral" rating and cut their target price for the company from $5.30 to $4.50 in a research report on Tuesday, October 6th. Finally, Raymond James Financial reiterated an "underperform" rating on shares of JetBlue Airways in a report on Monday, July 6th. Nine equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $4.98.

Insider Activity at JetBlue Airways

In other news, CFO Ursula Hurley sold 77,253 shares of the business's stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 83,253 shares of company stock worth $474,477. 2.41% of the stock is owned by company insiders.

About JetBlue Airways

JetBlue Airways Corporation is a U.S.-based passenger airline that provides scheduled air transportation to destinations across the United States, the Caribbean, Latin America and select locations in Europe. The company operates primarily from focus cities including New York, Boston, Fort Lauderdale, Orlando and Los Angeles, with a network designed to connect major metropolitan areas and leisure destinations.

JetBlue offers multiple classes and service options, including standard economy seating, extra-legroom EvenMore seats and its premium Mint service on select routes.

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