PDT Partners LLC Invests $4.04 Million in JetBlue Airways Corporation $JBLU

PDT Partners LLC acquired a new stake in shares of JetBlue Airways Corporation (NASDAQ:JBLU) during the second quarter, HoldingsChannel.com reports. The fund acquired 705,853 shares of the transportation company’s stock, valued at approximately $4,045,000.

A number of other institutional investors have also made changes to their positions in JBLU. Rockefeller Capital Management L.P. lifted its holdings in JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after purchasing an additional 3,373 shares during the last quarter. Trust Co. of Vermont bought a new position in shares of JetBlue Airways in the second quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of JetBlue Airways in the second quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of JetBlue Airways by 639.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after buying an additional 5,049 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of JetBlue Airways in the fourth quarter worth $30,000. 83.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other JetBlue Airways news, Director Vivek Sharma sold 32,000 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total value of $173,120.00. Following the completion of the sale, the director directly owned 35,479 shares of the company’s stock, valued at $191,941.39. This represents a 47.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ursula L. Hurley sold 77,253 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total transaction of $444,977.28. Following the completion of the sale, the chief financial officer owned 211,099 shares in the company, 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. Over the last three months, insiders sold 111,253 shares of company stock valued at $629,597. Insiders own 2.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Susquehanna upped their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. UBS Group boosted their target price on shares of JetBlue Airways from $4.00 to $4.50 and gave the stock a “sell” rating in a research report on Tuesday, June 23rd. The Goldman Sachs Group upped their price target on shares of JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a report on Thursday, July 2nd. Citigroup cut shares of JetBlue Airways from a “neutral” rating to a “sell” rating and decreased their price target for the company from $6.60 to $5.30 in a report on Friday, August 7th. Finally, BMO Capital Markets raised their price target on JetBlue Airways from $6.00 to $6.75 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Six investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $5.50.

JetBlue Airways Stock Up 2.6%

Shares of JBLU stock opened at $5.08 on Wednesday. JetBlue Airways Corporation has a 12 month low of $3.87 and a 12 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 firm has a market cap of $1.92 billion, a PE ratio of -2.13 and a beta of 1.74. The stock has a 50 day moving average of $5.63 and a 200-day moving average of $5.24.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the company posted ($0.21) earnings per share. JetBlue Airways’s quarterly revenue was up 14.5% on a year-over-year basis. On average, equities analysts predict that JetBlue Airways Corporation will post -2.24 EPS for the current year.

About JetBlue Airways

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.