Wells Fargo & Company MN boosted its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 22.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 476,939 shares of the transportation company’s stock after purchasing an additional 88,473 shares during the period. Wells Fargo & Company MN’s holdings in JetBlue Airways were worth $10,655,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Dallas Securities Inc. bought a new stake in JetBlue Airways during the 4th quarter valued at about $201,000. Cetera Advisors LLC bought a new stake in JetBlue Airways during the 3rd quarter valued at about $199,000. DekaBank Deutsche Girozentrale lifted its holdings in JetBlue Airways by 82.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 10,653 shares of the transportation company’s stock valued at $232,000 after buying an additional 4,801 shares in the last quarter. Rational Advisors LLC bought a new stake in JetBlue Airways during the 3rd quarter valued at about $217,000. Finally, Unison Advisors LLC bought a new stake in JetBlue Airways during the 4th quarter valued at about $290,000. Institutional investors own 91.01% of the company’s stock.
Shares of JetBlue Airways Co. (JBLU) opened at $22.17 on Tuesday. JetBlue Airways Co. has a twelve month low of $18.05 and a twelve month high of $24.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.50 and a quick ratio of 0.48. The company has a market cap of $7,270.80, a PE ratio of 6.30, a PEG ratio of 0.65 and a beta of 0.58.
JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). JetBlue Airways had a net margin of 16.35% and a return on equity of 13.57%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. sell-side analysts expect that JetBlue Airways Co. will post 1.93 earnings per share for the current year.
JetBlue Airways declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 13th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other news, EVP George Martin J. St sold 3,000 shares of JetBlue Airways stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $23.00, for a total value of $69,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robin Hayes sold 2,000 shares of JetBlue Airways stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $22.47, for a total transaction of $44,940.00. Following the completion of the transaction, the chief executive officer now directly owns 396,535 shares in the company, valued at approximately $8,910,141.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,000 shares of company stock valued at $369,720. Company insiders own 0.60% of the company’s stock.
A number of brokerages recently weighed in on JBLU. BidaskClub upgraded shares of JetBlue Airways from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. ValuEngine upgraded shares of JetBlue Airways from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Cowen reiterated a “market perform” rating and set a $24.00 price objective (up previously from $22.00) on shares of JetBlue Airways in a report on Tuesday, December 12th. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price objective (up previously from $20.00) on shares of JetBlue Airways in a report on Wednesday, January 10th. Finally, Bank of America lowered shares of JetBlue Airways from a “buy” rating to an “underperform” rating and set a $22.00 price objective for the company. in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $24.32.
About JetBlue Airways
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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