Susquehanna Fundamental Investments LLC boosted its holdings in JetBlue Airways Corporation (NASDAQ:JBLU – Free Report) by 8,509.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 864,430 shares of the transportation company’s stock after buying an additional 854,389 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in JetBlue Airways were worth $4,953,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Quantinno Capital Management LP boosted its position in shares of JetBlue Airways by 509.5% during the 1st quarter. Quantinno Capital Management LP now owns 649,600 shares of the transportation company’s stock worth $2,871,000 after acquiring an additional 543,017 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of JetBlue Airways during the 2nd quarter worth about $6,890,000. GSA Capital Partners LLP acquired a new stake in shares of JetBlue Airways during the 2nd quarter worth about $1,725,000. Renaissance Technologies LLC lifted its stake in JetBlue Airways by 235.9% during the first quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company’s stock worth $9,928,000 after purchasing an additional 1,577,500 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in JetBlue Airways during the second quarter worth approximately $1,375,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have commented on JBLU. Wall Street Zen lowered shares of JetBlue Airways from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Citigroup downgraded shares of JetBlue Airways from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $6.60 to $5.30 in a research report on Friday, August 7th. Susquehanna upped their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Bank of America increased their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research report on Wednesday, July 1st. Finally, BMO Capital Markets lifted their price target on shares of JetBlue Airways from $6.00 to $6.75 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Six equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $5.50.
JetBlue Airways Stock Down 4.2%
Shares of NASDAQ JBLU opened at $4.60 on Tuesday. The business has a 50-day moving average price of $5.57 and a 200 day moving average price of $5.20. The stock has a market cap of $1.74 billion, a PE ratio of -1.92 and a beta of 1.74. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04. JetBlue Airways Corporation has a 52-week low of $3.87 and a 52-week high of $6.62.
JetBlue Airways (NASDAQ:JBLU – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that JetBlue Airways Corporation will post -2.33 earnings per share for the current year.
Insider Activity
In other news, CFO Ursula L. Hurley sold 77,253 shares of JetBlue Airways stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total value of $444,977.28. Following the transaction, the chief financial officer directly owned 211,099 shares of the company’s stock, valued at $1,215,930.24. The trade was a 26.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.41% of the company’s stock.
About JetBlue Airways
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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