Slate Path Capital LP Acquires 1,044,285 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

Slate Path Capital LP boosted its holdings in shares of JetBlue Airways Co. (NASDAQ:JBLU - Free Report) by 188.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,598,285 shares of the transportation company's stock after buying an additional 1,044,285 shares during the quarter. Slate Path Capital LP owned about 0.46% of JetBlue Airways worth $12,563,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MetLife Investment Management LLC grew its stake in JetBlue Airways by 11.7% in the 4th quarter. MetLife Investment Management LLC now owns 187,968 shares of the transportation company's stock valued at $1,477,000 after buying an additional 19,694 shares during the last quarter. First Trust Advisors LP bought a new position in shares of JetBlue Airways in the fourth quarter worth about $103,000. Forum Financial Management LP acquired a new position in shares of JetBlue Airways during the 4th quarter worth about $111,000. Canada Pension Plan Investment Board bought a new stake in JetBlue Airways during the 4th quarter valued at approximately $3,415,000. Finally, Strategic Investment Solutions Inc. IL grew its holdings in JetBlue Airways by 1,769.4% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 9,347 shares of the transportation company's stock valued at $73,000 after buying an additional 8,847 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Seaport Res Ptn lowered shares of JetBlue Airways from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Citigroup cut their price objective on shares of JetBlue Airways from $7.15 to $4.25 and set a "neutral" rating for the company in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft lowered JetBlue Airways from a "buy" rating to a "hold" rating and lowered their price target for the company from $9.00 to $7.00 in a research note on Tuesday, March 4th. UBS Group reduced their price objective on JetBlue Airways from $5.00 to $3.00 and set a "sell" rating for the company in a research report on Monday, April 7th. Finally, Raymond James upgraded JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research report on Monday, April 7th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.09.

Insiders Place Their Bets

In related news, Director Nik Mittal purchased 100,000 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $6.14 per share, with a total value of $614,000.00. Following the completion of the purchase, the director now directly owns 116,443 shares of the company's stock, valued at $714,960.02. This trade represents a 608.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ursula L. Hurley sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total transaction of $112,500.00. Following the completion of the transaction, the chief financial officer now owns 41,833 shares of the company's stock, valued at $313,747.50. This trade represents a 26.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

JetBlue Airways Price Performance

Shares of JetBlue Airways stock traded down $0.06 during mid-day trading on Friday, reaching $3.88. 19,723,388 shares of the stock were exchanged, compared to its average volume of 18,628,738. JetBlue Airways Co. has a fifty-two week low of $3.34 and a fifty-two week high of $8.31. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -1.66 and a beta of 1.69. The firm has a 50-day simple moving average of $5.11 and a 200 day simple moving average of $6.29. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same quarter last year, the business earned ($0.19) earnings per share. On average, sell-side analysts predict that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

JetBlue Airways Company Profile

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.