Quantinno Capital Management LP Purchases 543,017 Shares of JetBlue Airways Corporation $JBLU

Key Points

• Quantinno Capital Management increased its JetBlue stake by 509.5%, buying 543,017 additional shares to own 649,600 shares valued at approximately $2.87 million. Institutional investors collectively own 83.71% of JBLU.
• JetBlue insiders sold 111,253 shares worth about $629,597 during the last quarter, including sales by a director and the CFO under a pre-arranged Rule 10b5-1 plan.
• JetBlue reported a quarterly loss of $0.66 per share, slightly outperforming estimates, while revenue rose 14.5% year over year to $2.70 billion. Wall Street remains cautious, with the stock carrying a consensus “Reduce” rating and a $5.40 target price.

Quantinno Capital Management LP raised its holdings in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 509.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 649,600 shares of the transportation company's stock after acquiring an additional 543,017 shares during the quarter. Quantinno Capital Management LP owned approximately 0.17% of JetBlue Airways worth $2,871,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. AQR Capital Management LLC lifted its stake in JetBlue Airways by 131.2% during the first quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company's stock worth $436,000 after purchasing an additional 51,377 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in JetBlue Airways by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company's stock worth $896,000 after purchasing an additional 8,053 shares during the period. Goldman Sachs Group Inc. increased its holdings in JetBlue Airways by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company's stock valued at $23,085,000 after purchasing an additional 274,892 shares in the last quarter. United Services Automobile Association acquired a new position in shares of JetBlue Airways during the first quarter worth about $106,000. Finally, Cetera Investment Advisers boosted its position in shares of JetBlue Airways by 10.7% in the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company's stock worth $130,000 after buying an additional 2,954 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JetBlue Airways

In other news, Director Vivek Sharma sold 32,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total value of $173,120.00. Following the completion of the transaction, the director directly owned 35,479 shares in the company, valued at $191,941.39. This trade represents a 47.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ursula L. Hurley sold 77,253 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the transaction, the chief financial officer owned 211,099 shares in the company, valued at $1,215,930.24. This represents a 26.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 111,253 shares of company stock valued at $629,597 over the last quarter. Insiders own 2.41% of the company's stock.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $6.07 on Monday. JetBlue Airways Corporation has a 12-month low of $3.87 and a 12-month high of $6.62. 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 firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -2.54 and a beta of 1.74. The business has a 50 day simple moving average of $5.55 and a 200 day simple moving average of $5.24.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, beating analysts' consensus estimates of ($0.69) by $0.03. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The company's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned ($0.21) earnings per share. On average, equities research analysts anticipate that JetBlue Airways Corporation will post -2.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Bank of America increased their target price on JetBlue Airways from $3.50 to $4.00 and gave the company an "underperform" rating in a research note on Wednesday, July 1st. Raymond James Financial reiterated an "underperform" rating on shares of JetBlue Airways in a research note on Monday, July 6th. BMO Capital Markets boosted their target price on shares of JetBlue Airways from $6.00 to $6.75 and gave the stock a "market perform" rating in a research report on Wednesday, July 29th. Citigroup downgraded shares of JetBlue Airways from a "neutral" rating to a "sell" rating and decreased their target price for the company from $6.60 to $5.30 in a research note on Friday. Finally, Seaport Research Partners raised shares of JetBlue Airways from a "neutral" rating to a "buy" rating and set a $8.00 price target for the company in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $5.40.

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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