Connor Clark & Lunn Investment Management Ltd. Invests $6.63 Million in JetBlue Airways Co. (NASDAQ:JBLU)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in JetBlue Airways Co. (NASDAQ:JBLU) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 843,728 shares of the transportation company’s stock, valued at approximately $6,632,000. Connor Clark & Lunn Investment Management Ltd. owned 0.24% of JetBlue Airways as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of JetBlue Airways during the 3rd quarter valued at approximately $28,000. Blue Trust Inc. raised its holdings in JetBlue Airways by 130.8% during the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after purchasing an additional 2,538 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in JetBlue Airways during the fourth quarter worth $40,000. Bogart Wealth LLC grew its holdings in JetBlue Airways by 67.8% in the fourth quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 2,850 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of JetBlue Airways in the fourth quarter valued at $58,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Up 1.8 %

Shares of NASDAQ:JBLU opened at $5.60 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -2.39 and a beta of 1.80. The stock’s 50-day moving average price is $6.83 and its two-hundred day moving average price is $6.63. JetBlue Airways Co. has a 12-month low of $4.50 and a 12-month high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping 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 9.31%. During the same period in the previous year, the firm earned ($0.19) EPS. On average, research analysts forecast that JetBlue Airways Co. will post -0.69 EPS for the current year.

Insider Activity

In related news, CFO Ursula L. Hurley sold 15,000 shares of JetBlue Airways stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now owns 41,833 shares in the company, valued at approximately $313,747.50. This trade represents a 26.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nik Mittal purchased 100,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $6.14 per share, with a total value of $614,000.00. Following the completion of the purchase, the director now directly owns 116,443 shares of the company’s stock, valued at $714,960.02. The trade was a 608.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on JBLU shares. Bank of America reiterated an “underperform” rating and issued a $6.50 price objective on shares of JetBlue Airways in a research report on Friday, January 17th. UBS Group dropped their price objective on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a research note on Wednesday, January 29th. Citigroup upped their target price on JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Susquehanna dropped their price target on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded JetBlue Airways from a “buy” rating to a “hold” rating and reduced their price objective for the company from $9.00 to $7.00 in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.33.

JetBlue Airways Profile

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.