Northern Trust Corp Buys 270,002 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

Northern Trust Corp lifted its stake in JetBlue Airways Co. (NASDAQ:JBLU - Free Report) by 9.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,209,254 shares of the transportation company's stock after buying an additional 270,002 shares during the quarter. Northern Trust Corp owned approximately 0.93% of JetBlue Airways worth $25,225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company's stock worth $35,000 after purchasing an additional 2,538 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of JetBlue Airways in the fourth quarter worth about $40,000. Bogart Wealth LLC boosted its stake in JetBlue Airways by 67.8% during the fourth quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company's stock valued at $55,000 after buying an additional 2,850 shares during the last quarter. R Squared Ltd purchased a new position in JetBlue Airways during the 4th quarter valued at approximately $58,000. Finally, GAMMA Investing LLC raised its holdings in shares of JetBlue Airways by 85.8% during the 4th quarter. GAMMA Investing LLC now owns 8,353 shares of the transportation company's stock worth $66,000 after acquiring an additional 3,857 shares in the last quarter. Institutional investors own 83.71% of the company's stock.

JetBlue Airways Trading Up 2.0%

JetBlue Airways stock traded up $0.10 during trading hours on Wednesday, hitting $5.03. The company had a trading volume of 42,190,687 shares, compared to its average volume of 19,774,282. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.18 and a current ratio of 1.10. The firm has a market cap of $1.78 billion, a P/E ratio of -2.15 and a beta of 1.79. The company has a 50-day moving average price of $4.61 and a two-hundred day moving average price of $6.07. JetBlue Airways Co. has a 1 year low of $3.34 and a 1 year high of $8.31.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.61) by $0.02. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. JetBlue Airways's quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.43) earnings per share. On average, sell-side analysts anticipate that JetBlue Airways Co. will post -0.69 earnings per share for the current year.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, CFO Ursula L. Hurley sold 15,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total transaction of $112,500.00. Following the transaction, the chief financial officer now directly owns 41,833 shares in the company, valued at $313,747.50. This represents a 26.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of JetBlue Airways from $4.25 to $5.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Barclays reduced their price objective on JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Susquehanna lowered their price objective on JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft downgraded JetBlue Airways from a "buy" rating to a "hold" rating and cut their target price for the company from $9.00 to $7.00 in a research report on Tuesday, March 4th. Finally, Raymond James upgraded JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 price target for the company in a research report on Monday, April 7th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, JetBlue Airways currently has an average rating of "Hold" and an average price target of $5.16.

About JetBlue Airways

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.