Susquehanna Fundamental Investments LLC Increases Stock Position in JetBlue Airways Corporation $JBLU

Key Points

• Susquehanna Fundamental Investments increased its JetBlue stake by 8,509% in the second quarter, ending with 864,430 shares worth approximately $4.95 million. Institutional investors and hedge funds collectively own 83.71% of JBLU.
• Wall Street sentiment remains cautious: analysts have assigned six Hold and six Sell ratings, producing a consensus “Reduce” rating and an average price target of $5.50.
• JetBlue shares opened at $4.60, while the airline reported a quarterly loss of $0.66 per share and $2.70 billion in revenue. Revenue increased 14.5% year over year, but the company continues to have negative margins and analysts forecast a full-year loss of $2.33 per share.

Susquehanna Fundamental Investments LLC boosted its position in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 8,509.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 864,430 shares of the transportation company's stock after buying an additional 854,389 shares during the quarter. Susquehanna Fundamental Investments LLC owned approximately 0.23% of JetBlue Airways worth $4,953,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quantinno Capital Management LP increased its stake in shares of JetBlue Airways by 509.5% in the 1st quarter. Quantinno Capital Management LP now owns 649,600 shares of the transportation company's stock valued at $2,871,000 after purchasing an additional 543,017 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in JetBlue Airways in the 2nd quarter worth about $6,890,000. GSA Capital Partners LLP purchased a new position in JetBlue Airways during the second quarter worth approximately $1,725,000. Renaissance Technologies LLC boosted its position in JetBlue Airways by 235.9% during the first quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company's stock worth $9,928,000 after purchasing an additional 1,577,500 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in JetBlue Airways in the second quarter valued at approximately $1,375,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Insider Transactions at JetBlue Airways

In related news, CFO Ursula L. Hurley sold 77,253 shares of the business's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total transaction of $444,977.28. Following the completion of the transaction, the chief financial officer directly owned 211,099 shares of the company's stock, valued at $1,215,930.24. The trade was a 26.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.41% of the company's stock.

Wall Street Analysts Forecast Growth

JBLU has been the subject of several research analyst reports. Raymond James Financial reaffirmed an "underperform" rating on shares of JetBlue Airways in a research note on Monday, July 6th. UBS Group lifted their price target on shares of JetBlue Airways from $4.00 to $4.50 and gave the company a "sell" rating in a research note on Tuesday, June 23rd. Seaport Research Partners lowered shares of JetBlue Airways from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. TD Cowen reduced their price objective on shares of JetBlue Airways from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Monday, August 24th. Finally, Susquehanna increased their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, July 7th. Six analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, JetBlue Airways has an average rating of "Reduce" and a consensus target price of $5.50.

JetBlue Airways Stock Down 4.2%

Shares of NASDAQ JBLU opened at $4.60 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -1.92 and a beta of 1.74. JetBlue Airways Corporation has a 52-week low of $3.87 and a 52-week high of $6.62. The business's 50 day moving average is $5.57 and its two-hundred day moving average is $5.20.

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 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 company had revenue of $2.70 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter last year, the company posted ($0.21) EPS. The firm's revenue was up 14.5% compared to the same quarter last year. Research analysts predict that JetBlue Airways Corporation will post -2.33 EPS for the current year.

About JetBlue Airways

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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