Legal & General Group Plc purchased a new stake in JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 572,317 shares of the transportation company's stock, valued at approximately $3,279,000. Legal & General Group Plc owned approximately 0.15% of JetBlue Airways at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of JBLU. Trust Co. of Vermont acquired a new position in JetBlue Airways during the second quarter worth about $26,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of JetBlue Airways in the 2nd quarter worth about $27,000. Rockefeller Capital Management L.P. boosted its position in shares of 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 worth $25,000 after buying an additional 3,373 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in JetBlue Airways by 639.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company's stock valued at $29,000 after acquiring an additional 5,049 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in JetBlue Airways during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 83.71% of the company's stock.
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 owned 211,099 shares in the company, valued at approximately $1,215,930.24. This trade represents a 26.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 81,253 shares of company stock valued at $465,897. Company insiders own 2.41% of the company's stock.
JetBlue Airways Stock Up 0.4%
JBLU opened at $4.63 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 stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -1.94 and a beta of 1.70. The business has a 50-day moving average of $5.48 and a two-hundred day moving average of $5.17. JetBlue Airways Corporation has a 12 month low of $3.87 and a 12 month high of $6.62.
JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its earnings results 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 business had revenue of $2.70 billion for 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 company's quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned ($0.21) earnings per share. On average, research analysts expect that JetBlue Airways Corporation will post -2.33 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. UBS Group increased their target price on JetBlue Airways from $4.00 to $4.50 and gave the company a "sell" rating in a report on Tuesday, June 23rd. Citigroup lowered JetBlue Airways from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $6.60 to $5.30 in a research note on Friday, August 7th. Seaport Research Partners cut JetBlue Airways from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. BMO Capital Markets boosted their target price on shares of JetBlue Airways from $6.00 to $6.75 and gave the company a "market perform" rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of JetBlue Airways from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Six investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $5.50.
Read Our Latest Research Report on JetBlue Airways
JetBlue Airways Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding JBLU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JetBlue Airways Corporation (NASDAQ:JBLU - Free Report).
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