Traders Sell Shares of JetBlue Airways Corporation (JBLU) on Strength on Insider Selling

Traders sold shares of JetBlue Airways Corporation (NASDAQ:JBLU) on strength during trading hours on Tuesday after an insider sold shares in the company. $15.45 million flowed into the stock on the tick-up and $47.45 million flowed out of the stock on the tick-down, for a money net flow of $32.00 million out of the stock. Of all equities tracked, JetBlue Airways Corporation had the 28th highest net out-flow for the day. JetBlue Airways Corporation traded up $0.40 for the day and closed at $19.78Specifically, CEO Robin Hayes sold 2,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $22.87, for a total value of $45,740.00. Following the sale, the chief executive officer now directly owns 408,362 shares in the company, valued at $9,339,238.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Martin J. St sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $18.79, for a total transaction of $46,975.00. The disclosure for this sale can be found here. Insiders have sold 31,860 shares of company stock valued at $683,975 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Several equities analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of JetBlue Airways Corporation from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 17th. Standpoint Research reaffirmed a “buy” rating on shares of JetBlue Airways Corporation in a research note on Sunday, September 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $23.00 price target on shares of JetBlue Airways Corporation in a research note on Friday, May 26th. BidaskClub downgraded shares of JetBlue Airways Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research raised shares of JetBlue Airways Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. JetBlue Airways Corporation currently has an average rating of “Hold” and a consensus target price of $25.32.

The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 10.04 and a beta of 0.59. The firm has a 50 day moving average price of $20.87 and a 200 day moving average price of $21.46.

JetBlue Airways Corporation (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. JetBlue Airways Corporation had a return on equity of 16.75% and a net margin of 9.78%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm posted $0.53 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts anticipate that JetBlue Airways Corporation will post $1.94 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of JetBlue Airways Corporation in the first quarter worth $138,000. CENTRAL TRUST Co bought a new position in JetBlue Airways Corporation in the second quarter valued at about $162,000. IFP Advisors Inc grew its position in JetBlue Airways Corporation by 38.1% in the second quarter. IFP Advisors Inc now owns 7,672 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 2,117 shares during the last quarter. Soros Fund Management LLC bought a new position in JetBlue Airways Corporation in the first quarter valued at about $200,000. Finally, Capital Management Associates NY bought a new position in JetBlue Airways Corporation in the second quarter valued at about $203,000. 84.53% of the stock is owned by institutional investors.

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JetBlue Airways Corporation Company Profile

JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.

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