Nik Mittal Acquires 100,000 Shares of JetBlue Airways Co. (NASDAQ:JBLU) Stock

JetBlue Airways Co. (NASDAQ:JBLU) Director Nik Mittal acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average cost of $6.14 per share, for a total transaction of $614,000.00. Following the transaction, the director now owns 116,443 shares of the company’s stock, valued at $714,960.02. This represents a 608.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

JetBlue Airways Price Performance

NASDAQ:JBLU opened at $6.67 on Friday. JetBlue Airways Co. has a one year low of $4.49 and a one year high of $8.31. The company has a market cap of $2.31 billion, a P/E ratio of -2.85 and a beta of 1.83. The firm’s fifty day moving average price is $7.22 and its two-hundred day moving average price is $6.43. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data 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 net margin of 8.57% and a negative return on equity of 9.29%. During the same period in the prior year, the company earned ($0.19) EPS. Equities analysts expect that JetBlue Airways Co. will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently modified their holdings of the stock. Maverick Capital Ltd. grew its stake in shares of JetBlue Airways by 136.1% in the third quarter. Maverick Capital Ltd. now owns 245,657 shares of the transportation company’s stock valued at $1,612,000 after acquiring an additional 141,605 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of JetBlue Airways by 56.7% in the third quarter. Quantbot Technologies LP now owns 922,925 shares of the transportation company’s stock valued at $6,054,000 after acquiring an additional 334,032 shares in the last quarter. Jade Capital Advisors LLC grew its stake in shares of JetBlue Airways by 800.0% in the third quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock valued at $2,952,000 after acquiring an additional 400,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of JetBlue Airways by 13.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock valued at $37,141,000 after acquiring an additional 663,865 shares in the last quarter. Finally, Privium Fund Management UK Ltd acquired a new position in shares of JetBlue Airways in the third quarter valued at about $794,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JBLU has been the topic of a number of research reports. Citigroup boosted their price objective on shares of JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group reissued a “sell” rating and issued a $5.50 price objective on shares of JetBlue Airways in a research report on Friday, November 15th. UBS Group dropped their price target on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Susquehanna dropped their price target on shares of JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, StockNews.com raised shares of JetBlue Airways to a “sell” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, JetBlue Airways presently has a consensus rating of “Hold” and a consensus target price of $6.51.

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.