Prentice Capital Management LP Purchases 1,333,016 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

Prentice Capital Management LP grew its position in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 1,329.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,433,316 shares of the transportation company’s stock after purchasing an additional 1,333,016 shares during the quarter. JetBlue Airways accounts for 19.4% of Prentice Capital Management LP’s portfolio, making the stock its largest position. Prentice Capital Management LP’s holdings in JetBlue Airways were worth $11,266,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of JBLU. Ballentine Partners LLC acquired a new position in shares of JetBlue Airways during the 4th quarter valued at $114,000. SG Americas Securities LLC boosted its stake in shares of 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 worth $11,555,000 after acquiring an additional 1,444,491 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of JetBlue Airways by 130.8% during the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after acquiring an additional 2,538 shares in the last quarter. R Squared Ltd bought a new stake in shares of JetBlue Airways during the 4th quarter worth $58,000. Finally, Spire Wealth Management boosted its stake in shares of JetBlue Airways by 175.9% during the 4th quarter. Spire Wealth Management now owns 54,470 shares of the transportation company’s stock worth $428,000 after acquiring an additional 34,729 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Trading Up 2.0%

JetBlue Airways stock opened at $5.03 on Thursday. 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 business’s 50-day simple moving average is $4.59 and its 200-day simple moving average is $6.06. The firm has a market capitalization of $1.78 billion, a PE ratio of -2.15 and a beta of 1.79. JetBlue Airways Co. has a 52 week low of $3.34 and a 52 week high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, April 29th. The transportation company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.02. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the company posted ($0.43) earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities research analysts forecast that JetBlue Airways Co. will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America reduced their price objective on JetBlue Airways from $5.25 to $4.25 and set an “underperform” rating for the company in a research note on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft cut JetBlue Airways from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $7.00 in a research report on Tuesday, March 4th. Citigroup lifted their price objective on JetBlue Airways from $4.25 to $5.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Susquehanna reduced their price objective on JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, Raymond James raised JetBlue Airways from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a research report on Monday, April 7th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JetBlue Airways presently has an average rating of “Hold” and an average price target of $5.16.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, CFO Ursula L. Hurley sold 15,000 shares of JetBlue Airways 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 sale, the chief financial officer now directly owns 41,833 shares of the company’s stock, valued at approximately $313,747.50. The trade was a 26.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.18% of the company’s stock.

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.