JetBlue Airways Corporation (NASDAQ:JBLU – Get Free Report) saw some unusual options trading activity on Thursday. Investors purchased 71,189 call options on the stock. This is an increase of 119% compared to the typical daily volume of 32,467 call options.
Analyst Upgrades and Downgrades
JBLU has been the subject of a number of research reports. Seaport Research Partners raised shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Thursday, April 16th. Citigroup dropped their price target on shares of JetBlue Airways from $6.00 to $4.40 and set a “neutral” rating on the stock in a research note on Friday, March 20th. BMO Capital Markets started coverage on shares of JetBlue Airways in a report on Tuesday, March 24th. They set a “market perform” rating and a $4.50 price target on the stock. The Goldman Sachs Group reiterated a “sell” rating and issued a $3.50 price objective on shares of JetBlue Airways in a report on Monday, June 1st. Finally, UBS Group increased their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock a “sell” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $4.93.
Read Our Latest Report on JBLU
JetBlue Airways Stock Performance
JetBlue Airways (NASDAQ:JBLU – Get Free Report) last issued its earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.59) earnings per share. Equities analysts forecast that JetBlue Airways will post -2.78 EPS for the current fiscal year.
Insiders Place Their Bets
In other JetBlue Airways news, Director Thomas Winkelmann sold 35,473 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $4.70, for a total transaction of $166,723.10. Following the completion of the sale, the director directly owned 13,379 shares in the company, valued at approximately $62,881.30. This trade represents a 72.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vivek Sharma sold 32,000 shares of JetBlue Airways stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $5.41, for a total value of $173,120.00. Following the transaction, the director directly owned 35,479 shares in the company, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their position. The SEC filing for this sale provides additional information. 2.41% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Stifel Financial Corp raised its position in shares of JetBlue Airways by 0.6% in the 4th quarter. Stifel Financial Corp now owns 326,990 shares of the transportation company’s stock worth $1,488,000 after purchasing an additional 1,928 shares during the last quarter. Vident Advisory LLC grew its position in JetBlue Airways by 20.2% in the 4th quarter. Vident Advisory LLC now owns 13,232 shares of the transportation company’s stock worth $60,000 after purchasing an additional 2,226 shares during the period. Essex Financial Services Inc. increased its position in JetBlue Airways by 12.4% during the fourth quarter. Essex Financial Services Inc. now owns 23,504 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 2,599 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of JetBlue Airways by 10.7% in the 2nd quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock worth $130,000 after purchasing an additional 2,954 shares during the period. Finally, Amundi boosted its stake in shares of JetBlue Airways by 8.9% during the 1st quarter. Amundi now owns 39,447 shares of the transportation company’s stock worth $174,000 after acquiring an additional 3,238 shares during the last quarter. 83.71% of the stock is owned by institutional investors.
JetBlue Airways Company Profile
JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.
The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.
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