Insider Selling: JetBlue Airways (NASDAQ:JBLU) Director Sells 32,000 Shares of Stock

Key Points

• JetBlue director Vivek Sharma sold 32,000 shares on May 28 at an average price of $5.41, worth about $173,120. After the sale, he still owned 35,479 shares, reducing his stake by 47.42%.
• JetBlue shares fell 5.9% to $5.15 amid heavy trading, with the stock remaining well below its 52-week high of $6.50 and near its 50-day and 200-day moving averages.
• Analysts remain cautious on JetBlue: the consensus rating is “Reduce” with a target price of $4.93, even as some institutions increased holdings and JetBlue reported strong revenue growth but missed EPS estimates in its latest quarter.

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) Director Vivek Sharma sold 32,000 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total transaction of $173,120.00. Following the sale, the director directly owned 35,479 shares of the company's stock, valued at $191,941.39. This represents a 47.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

JetBlue Airways Trading Down 5.9%

Shares of NASDAQ JBLU traded down $0.32 during trading on Monday, hitting $5.15. 36,405,365 shares of the company traded hands, compared to its average volume of 25,040,674. JetBlue Airways Corporation has a 1 year low of $3.84 and a 1 year high of $6.50. The company has a 50-day moving average price of $4.88 and a 200-day moving average price of $4.93. The firm has a market capitalization of $1.92 billion, a P/E ratio of -2.65 and a beta of 1.73. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 4.25.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.15). JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The company had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the prior year, the firm earned ($0.59) earnings per share. The firm's quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that JetBlue Airways Corporation will post -2.78 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors have recently modified their holdings of JBLU. Goldman Sachs Group Inc. lifted its stake in JetBlue Airways by 85.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company's stock valued at $55,166,000 after buying an additional 5,591,470 shares during the last quarter. Deutsche Bank AG lifted its stake in JetBlue Airways by 1,157.9% in the fourth quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company's stock valued at $15,270,000 after buying an additional 3,089,226 shares during the last quarter. Par Capital Management Inc. lifted its stake in JetBlue Airways by 105.3% in the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company's stock valued at $23,212,000 after buying an additional 2,814,870 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in JetBlue Airways in the 4th quarter worth about $8,795,000. Finally, Renaissance Technologies LLC increased its stake in shares of JetBlue Airways by 235.9% in the first quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company's stock valued at $9,928,000 after purchasing an additional 1,577,500 shares during the period. Institutional investors and hedge funds own 83.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on JBLU. Citigroup decreased their price target on shares of JetBlue Airways from $6.00 to $4.40 and set a "neutral" rating for the company in a research report on Friday, March 20th. Wall Street Zen raised shares of JetBlue Airways from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of JetBlue Airways in a research report on Tuesday, April 21st. BMO Capital Markets began coverage on shares of JetBlue Airways in a research report on Tuesday, March 24th. They set a "market perform" rating and a $4.50 price target for the company. Finally, TD Cowen raised shares of JetBlue Airways from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, JetBlue Airways presently has an average rating of "Reduce" and a consensus target price of $4.93.

JetBlue Airways News Roundup

Here are the key news stories impacting JetBlue Airways this week:

• Positive Sentiment: JetBlue raised its second-quarter outlook after reporting that demand remains strong and consistent across cabins and regions, with especially solid close-in travel and improved performance on routes formerly served by Spirit Airlines. JetBlue Seeing Strong Demand Across All Geographies
• Positive Sentiment: Investors are also reacting to JetBlue’s plan to launch nonstop Fort Lauderdale-Caracas service, which expands its Latin America reach and signals confidence in demand from South Florida travelers. JetBlue Expands Network Reach as It Eyes Entry Into Venezuela
• Positive Sentiment: JetBlue’s updated filing highlighted “overperformance” on former Spirit routes, which may support revenue growth and help offset broader industry weakness. JetBlue Stock Tanks As Iran War Weighs On Fuel Prices
• Neutral Sentiment: UBS kept a Sell rating on JetBlue, though it raised its price target to $4 from $3.50, suggesting analysts still see meaningful challenges despite some improving fundamentals. UBS Maintains a “Sell” Rating on JetBlue Airways Corporation (JBLU)
• Negative Sentiment: JetBlue also lifted its fuel cost forecast for the second quarter, and higher jet fuel prices are a headwind for margins and earnings, especially if geopolitical tensions keep oil prices elevated. Jetblue raises second-quarter fuel cost forecast

JetBlue Airways Company 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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