Insider Selling: JetBlue Airways (NASDAQ:JBLU) Insider Sells $11,500.00 in Stock

Key Points

• JetBlue insider Carol Ann Clements sold 2,000 shares at an average price of $5.75, generating $11,500. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan and reduced her ownership by 1.08% to 183,896 shares.
• JetBlue shares recently traded at $6.23, near their 52-week high of $6.50, while the company reported a quarterly loss of $0.66 per share—slightly better than estimates—and $2.70 billion in revenue, up 14.5% year over year.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $5.54. The stock is held predominantly by institutional investors, which own 83.71% of outstanding shares.

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) insider Carol Ann Clements sold 2,000 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $5.75, for a total transaction of $11,500.00. Following the transaction, the insider owned 183,896 shares in the company, valued at $1,057,402. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

JetBlue Airways Price Performance

Shares of JBLU stock traded up $0.20 during midday trading on Monday, reaching $6.23. 31,808,311 shares of the company traded hands, compared to its average volume of 27,337,324. The firm's 50 day simple moving average is $5.45 and its two-hundred day simple moving average is $5.19. The firm has a market cap of $2.35 billion, a PE ratio of -2.61 and a beta of 1.74. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63. JetBlue Airways Corporation has a 1-year low of $3.87 and a 1-year high of $6.50.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, topping analysts' consensus estimates of ($0.69) by $0.03. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The business had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter in the prior year, the firm posted ($0.21) EPS. The company's revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts expect that JetBlue Airways Corporation will post -2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JBLU. UBS Group increased their price objective 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. Bank of America upped their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the company an "underperform" rating in a report on Wednesday, July 1st. Raymond James Financial reiterated an "underperform" rating on shares of JetBlue Airways in a research report on Monday, July 6th. Citigroup raised their price objective on shares of JetBlue Airways from $4.40 to $6.60 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Finally, Susquehanna lifted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $5.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JBLU. AQR Capital Management LLC grew its stake in JetBlue Airways by 131.2% in the 1st quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company's stock worth $436,000 after acquiring an additional 51,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of JetBlue Airways by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company's stock valued at $896,000 after purchasing an additional 8,053 shares during the period. Goldman Sachs Group Inc. grew its position in shares of JetBlue Airways by 6.1% in the first 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 during the period. United Services Automobile Association purchased a new position in JetBlue Airways during the first quarter worth about $106,000. Finally, Cetera Investment Advisers boosted its stake in JetBlue Airways by 10.7% in the 2nd 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 last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

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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