Wedge Capital Management L L P NC acquired a new stake in JetBlue Airways Co. (NASDAQ:JBLU) during the first quarter, HoldingsChannel.com reports. The fund acquired 825,088 shares of the transportation company’s stock, valued at approximately $13,498,000.
Other institutional investors have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. lifted its position in shares of JetBlue Airways by 819.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,563 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 1,393 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in JetBlue Airways during the first quarter worth about $25,000. Investors Research Corp purchased a new stake in JetBlue Airways during the first quarter worth about $25,000. First Command Bank purchased a new stake in JetBlue Airways during the first quarter worth about $35,000. Finally, KBC Group NV increased its holdings in JetBlue Airways by 88.2% during the fourth quarter. KBC Group NV now owns 2,213 shares of the transportation company’s stock worth $36,000 after buying an additional 1,037 shares during the last quarter. 91.45% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on JBLU shares. Vertical Research started coverage on shares of JetBlue Airways in a report on Monday, February 4th. They set a “hold” rating and a $19.00 price objective for the company. Barclays downgraded shares of JetBlue Airways from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $27.00 to $20.00 in a research note on Monday, March 11th. Buckingham Research reduced their target price on shares of JetBlue Airways from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Zacks Investment Research downgraded shares of JetBlue Airways from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Finally, BidaskClub downgraded shares of JetBlue Airways from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. JetBlue Airways has a consensus rating of “Hold” and a consensus price target of $19.52.
In related news, CEO Robin Hayes sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $15.92, for a total transaction of $39,800.00. Following the completion of the transaction, the chief executive officer now owns 455,576 shares of the company’s stock, valued at $7,252,769.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders have sold 7,500 shares of company stock valued at $127,275. 0.79% of the stock is owned by corporate insiders.
Shares of NASDAQ:JBLU opened at $18.31 on Friday. The company has a market cap of $5.52 billion, a P/E ratio of 11.81, a PEG ratio of 3.46 and a beta of 0.93. JetBlue Airways Co. has a 12 month low of $15.19 and a 12 month high of $20.14. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.53 and a quick ratio of 0.50.
JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.87 billion. JetBlue Airways had a net margin of 1.81% and a return on equity of 10.16%. JetBlue Airways’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. As a group, equities research analysts anticipate that JetBlue Airways Co. will post 1.89 earnings per share for the current year.
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JetBlue Airways Profile
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.
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