JetBlue Airways Sees Unusually Large Options Volume (NASDAQ:JBLU)

JetBlue Airways Corporation (NASDAQ:JBLU) was the target of some unusual options trading on Monday. Investors purchased 63,915 put options on the stock. This is an increase of approximately 39% compared to the average volume of 46,082 put options.

JetBlue Airways Trading Up 11.2%

Shares of JBLU traded up $0.32 during mid-day trading on Monday, reaching $3.17. The stock had a trading volume of 30,513,729 shares, compared to its average volume of 26,532,877. The company has a debt-to-equity ratio of 5.92, a current ratio of 0.63 and a quick ratio of 0.55. JetBlue Airways has a 52-week low of $2.16 and a 52-week high of $6.62. The business’s fifty day moving average is $3.98 and its 200 day moving average is $4.92. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -1.18 and a beta of 1.90.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Monday, October 26th. The transportation company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.05). The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.83 billion. JetBlue Airways had a negative return on equity of 56.96% and a negative net margin of 10.01%. JetBlue Airways’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.40) earnings per share. On average, sell-side analysts predict that JetBlue Airways will post -2.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on JBLU shares. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, October 15th. Citigroup upgraded shares of JetBlue Airways from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $5.30 to $4.50 in a research note on Tuesday, October 6th. Raymond James Financial lowered shares of JetBlue Airways from a “market perform” rating to an “underperform” rating in a research note on Monday, July 6th. Barclays decreased their price target on shares of JetBlue Airways from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, September 11th. Finally, BMO Capital Markets lowered their price objective on shares of JetBlue Airways from $6.75 to $5.25 and set a “market perform” rating for the company in a research note on Monday, September 28th. Nine analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, JetBlue Airways presently has a consensus rating of “Reduce” and an average price target of $4.89.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new stake in JetBlue Airways during the 2nd quarter worth approximately $20,022,000. Counterpoint Mutual Funds LLC raised its holdings in JetBlue Airways by 91.1% during the third quarter. Counterpoint Mutual Funds LLC now owns 2,297,994 shares of the transportation company’s stock worth $9,721,000 after purchasing an additional 1,095,610 shares in the last quarter. Quantinno Capital Management LP lifted its position in JetBlue Airways by 509.5% in the first quarter. Quantinno Capital Management LP now owns 649,600 shares of the transportation company’s stock valued at $2,871,000 after acquiring an additional 543,017 shares during the last quarter. WINTON GROUP Ltd grew its stake in JetBlue Airways by 95.6% during the 2nd quarter. WINTON GROUP Ltd now owns 553,212 shares of the transportation company’s stock worth $3,170,000 after buying an additional 270,358 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in JetBlue Airways during the 2nd quarter worth $1,725,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a U.S.-based passenger airline that provides scheduled air transportation to destinations across the United States, the Caribbean, Latin America and select locations in Europe. The company operates primarily from focus cities including New York, Boston, Fort Lauderdale, Orlando and Los Angeles, with a network designed to connect major metropolitan areas and leisure destinations.

JetBlue offers multiple classes and service options, including standard economy seating, extra-legroom EvenMore seats and its premium Mint service on select routes.