Ieq Capital LLC Takes Position in JetBlue Airways Corporation $JBLU

Ieq Capital LLC acquired a new position in JetBlue Airways Corporation (NASDAQ:JBLU) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 364,631 shares of the transportation company’s stock, valued at approximately $2,089,000.

Several other large investors have also modified their holdings of JBLU. Goldman Sachs Group Inc. grew its stake in shares of JetBlue Airways by 85.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company’s stock worth $55,166,000 after acquiring an additional 5,591,470 shares during the last quarter. Deutsche Bank AG raised its stake in JetBlue Airways by 1,157.9% during the 4th quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock valued at $15,270,000 after purchasing an additional 3,089,226 shares during the last quarter. Par Capital Management Inc. boosted its holdings in JetBlue Airways by 105.3% in the 2nd quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock valued at $23,212,000 after purchasing an additional 2,814,870 shares during the period. Bank of New York Mellon Corp bought a new stake in JetBlue Airways in the 2nd quarter valued at $11,336,000. Finally, Tudor Investment Corp ET AL acquired a new stake in JetBlue Airways in the 4th quarter worth $8,795,000. 83.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JBLU has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a report on Friday, July 17th. TD Cowen decreased their target price on JetBlue Airways from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Monday. The Goldman Sachs Group boosted their price target on JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a research note on Thursday, July 2nd. Raymond James Financial reiterated an “underperform” rating on shares of JetBlue Airways in a research report on Monday, July 6th. Finally, Bank of America lifted their price objective on JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a report on Wednesday, July 1st. Six research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, JetBlue Airways currently has an average rating of “Reduce” and a consensus target price of $5.50.

Insider Buying and Selling at JetBlue Airways

In other JetBlue Airways news, Director Vivek Sharma sold 32,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the sale, the director directly owned 35,479 shares in the company, valued at $191,941.39. This represents a 47.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ursula L. Hurley sold 77,253 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total value of $444,977.28. Following the transaction, the chief financial officer owned 211,099 shares of the company’s stock, valued at $1,215,930.24. This represents a 26.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 111,253 shares of company stock worth $629,597. 2.41% of the stock is owned by insiders.

JetBlue Airways Stock Performance

NASDAQ JBLU opened at $5.08 on Wednesday. JetBlue Airways Corporation has a twelve month low of $3.87 and a twelve month high of $6.62. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04. The stock has a market cap of $1.92 billion, a P/E ratio of -2.13 and a beta of 1.74. The company’s 50-day simple moving average is $5.63 and its 200 day simple moving average is $5.24.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.03. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share. As a group, research analysts forecast that JetBlue Airways Corporation will post -2.24 earnings per share for the current fiscal year.

JetBlue Airways 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.