PDT Partners LLC Takes $3.74 Million Position in JetBlue Airways Corporation $JBLU

Key Points

• PDT Partners LLC has acquired a new stake in JetBlue Airways, buying 775,095 shares valued at approximately $3.7 million, representing about 0.22% of the company's shares.
• Analysts are projecting mixed ratings for JetBlue, with a consensus target price of $5.16 and reports suggesting a majority of analysts have categorized the stock as Hold or Sell.
• JetBlue Airways recently reported earnings that exceeded analysts' expectations, with a revenue of $2.36 billion for the quarter, although it remains at a negative net margin of 4.22%.

PDT Partners LLC acquired a new position in JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 775,095 shares of the transportation company's stock, valued at approximately $3,736,000. PDT Partners LLC owned about 0.22% of JetBlue Airways as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in JetBlue Airways by 7.8% in the first quarter. American Century Companies Inc. now owns 9,457,873 shares of the transportation company's stock worth $45,587,000 after purchasing an additional 685,880 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in JetBlue Airways by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,964,013 shares of the transportation company's stock valued at $33,567,000 after acquiring an additional 238,342 shares during the period. Voloridge Investment Management LLC grew its position in JetBlue Airways by 60.8% during the 4th quarter. Voloridge Investment Management LLC now owns 5,203,155 shares of the transportation company's stock worth $40,897,000 after acquiring an additional 1,968,343 shares during the last quarter. Invesco Ltd. grew its position in JetBlue Airways by 0.8% during the 1st quarter. Invesco Ltd. now owns 4,100,391 shares of the transportation company's stock worth $19,764,000 after acquiring an additional 31,281 shares during the last quarter. Finally, Jump Financial LLC lifted its position in JetBlue Airways by 55.7% in the first quarter. Jump Financial LLC now owns 3,461,848 shares of the transportation company's stock valued at $16,686,000 after purchasing an additional 1,238,494 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company's stock.

Analyst Upgrades and Downgrades

JBLU has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of JetBlue Airways from $3.00 to $4.00 and gave the stock a "sell" rating in a report on Friday. Susquehanna reissued a "neutral" rating on shares of JetBlue Airways in a research note on Tuesday, July 29th. Wall Street Zen raised JetBlue Airways to a "sell" rating in a research report on Thursday, May 15th. Citigroup set a $5.00 price objective on shares of JetBlue Airways and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, Raymond James Financial lowered shares of JetBlue Airways from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Seven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $5.18.

JetBlue Airways Stock Down 0.2%

JBLU stock traded down $0.01 during trading on Friday, hitting $5.08. 31,720,712 shares of the stock traded hands, compared to its average volume of 17,643,364. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -4.62 and a beta of 1.81. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.88 and a quick ratio of 0.84. JetBlue Airways Corporation has a 1 year low of $3.34 and a 1 year high of $8.31. The firm's 50 day moving average is $4.71 and its two-hundred day moving average is $4.81.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its earnings results on Tuesday, July 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.15. The firm had revenue of $2.36 billion for 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%. On average, sell-side analysts anticipate that JetBlue Airways Corporation will post -0.69 EPS for the current year.

JetBlue Airways Company 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.