Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 843,728 JetBlue Airways Co. (NASDAQ:JBLU)

Connor Clark & Lunn Investment Management Ltd. bought a new position in JetBlue Airways Co. (NASDAQ:JBLU) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 843,728 shares of the transportation company’s stock, valued at approximately $6,632,000.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in JetBlue Airways by 18.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,725,671 shares of the transportation company’s stock worth $52,864,000 after acquiring an additional 1,063,929 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of JetBlue Airways by 88.2% in the third quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock valued at $36,170,000 after purchasing an additional 2,584,350 shares during the period. SG Americas Securities LLC grew its holdings in JetBlue Airways by 5,648.9% during the 4th quarter. SG Americas Securities LLC now owns 1,470,062 shares of the transportation company’s stock valued at $11,555,000 after purchasing an additional 1,444,491 shares in the last quarter. Principal Financial Group Inc. increased its stake in JetBlue Airways by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,447,596 shares of the transportation company’s stock worth $11,378,000 after buying an additional 40,452 shares during the period. Finally, Empowered Funds LLC lifted its holdings in JetBlue Airways by 8.3% in the 4th quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock worth $10,977,000 after buying an additional 107,293 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $5.60 on Friday. The company has a market cap of $1.98 billion, a PE ratio of -2.39 and a beta of 1.80. JetBlue Airways Co. has a fifty-two week low of $4.50 and a fifty-two week high of $8.31. The firm has a 50-day simple moving average of $6.83 and a 200 day simple moving average of $6.63. The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Susquehanna dropped their price objective on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered 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. Bank of America restated an “underperform” rating and issued a $6.50 price target on shares of JetBlue Airways in a research note on Friday, January 17th. Finally, Citigroup increased their price objective on shares of JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Five analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.33.

Insider Buying and Selling

In other news, Director Nik Mittal bought 100,000 shares of JetBlue Airways stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $6.14 per share, with a total value of $614,000.00. Following the purchase, the director now directly owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. This trade represents a 608.16 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ursula L. Hurley sold 15,000 shares of the company’s stock in a transaction dated 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 approximately $313,747.50. This trade represents a 26.39 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by company insiders.

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.