Public Employees Retirement System of Ohio Raises Stock Position in JetBlue Airways Corporation $JBLU

Key Points

• The Public Employees Retirement System of Ohio significantly increased its holdings in JetBlue Airways by 5,888.2%, acquiring a total of 252,943 shares worth approximately $1.07 million.
• Various institutional investors, including American Century Companies Inc. and Goldman Sachs Group Inc., also increased their stakes in JetBlue during the first quarter of the year, pushing overall institutional ownership to 83.71%.
• Analysts' consensus rating for JetBlue Airways is currently "Reduce" with an average target price of $5.28, reflecting a mixed outlook despite the company recently beating EPS estimates.

Public Employees Retirement System of Ohio grew its holdings in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 5,888.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,943 shares of the transportation company's stock after purchasing an additional 248,719 shares during the period. Public Employees Retirement System of Ohio owned about 0.07% of JetBlue Airways worth $1,070,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. American Century Companies Inc. increased its stake in JetBlue Airways by 7.8% during 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 period. Charles Schwab Investment Management Inc. increased its stake in JetBlue Airways by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,964,013 shares of the transportation company's stock worth $33,567,000 after purchasing an additional 238,342 shares during the period. Goldman Sachs Group Inc. increased its stake in JetBlue Airways by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company's stock worth $23,085,000 after purchasing an additional 274,892 shares during the period. Invesco Ltd. increased its stake in shares of JetBlue Airways by 0.8% during the first quarter. Invesco Ltd. now owns 4,100,391 shares of the transportation company's stock worth $19,764,000 after buying an additional 31,281 shares during the period. Finally, Jump Financial LLC increased its stake in shares of JetBlue Airways by 55.7% during the first quarter. Jump Financial LLC now owns 3,461,848 shares of the transportation company's stock worth $16,686,000 after buying an additional 1,238,494 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

JetBlue Airways Price Performance

JetBlue Airways stock opened at $4.83 on Friday. JetBlue Airways Corporation has a one year low of $3.34 and a one year high of $8.31. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.84 and a current ratio of 0.88. The business has a fifty day moving average of $4.95 and a two-hundred day moving average of $4.67. The company has a market cap of $1.76 billion, a P/E ratio of -4.39 and a beta of 1.82.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on JBLU shares. Citigroup set a $5.00 target price on shares of JetBlue Airways and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Barclays restated an "underweight" rating on shares of JetBlue Airways in a research note on Tuesday, July 29th. UBS Group upped their target price on shares of JetBlue Airways from $3.00 to $4.00 and gave the stock a "sell" rating in a research note on Friday, September 5th. TD Cowen upped their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a "hold" rating in a research note on Monday, September 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of JetBlue Airways in a research note on Saturday, September 27th. Seven investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, JetBlue Airways currently has a consensus rating of "Reduce" and an average target price of $5.28.

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.

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