Wedge Capital Management L L P NC Sells 106,397 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

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Wedge Capital Management L L P NC decreased its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 12.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 718,691 shares of the transportation company’s stock after selling 106,397 shares during the period. Wedge Capital Management L L P NC owned approximately 0.24% of JetBlue Airways worth $13,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investors Research Corp bought a new stake in shares of JetBlue Airways during the 1st quarter valued at about $25,000. First Command Bank bought a new stake in shares of JetBlue Airways during the 1st quarter valued at about $35,000. Quantamental Technologies LLC bought a new stake in shares of JetBlue Airways during the 1st quarter valued at about $57,000. Steward Partners Investment Advisory LLC bought a new stake in shares of JetBlue Airways during the 2nd quarter valued at about $59,000. Finally, Barings LLC bought a new stake in shares of JetBlue Airways during the 1st quarter valued at about $177,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP George Martin J. St sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $17.63, for a total transaction of $26,445.00. Following the completion of the transaction, the executive vice president now directly owns 45,227 shares of the company’s stock, valued at $797,352.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robin Hayes sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $18.43, for a total transaction of $46,075.00. Following the transaction, the chief executive officer now directly owns 478,743 shares of the company’s stock, valued at $8,823,233.49. The disclosure for this sale can be found here. Insiders sold 14,335 shares of company stock valued at $270,990 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Several equities research analysts recently commented on the stock. Susquehanna Bancshares assumed coverage on shares of JetBlue Airways in a research note on Tuesday, May 28th. They set a “positive” rating and a $22.00 price objective on the stock. Citigroup raised shares of JetBlue Airways from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $19.50 to $26.00 in a research note on Tuesday, June 11th. BidaskClub raised shares of JetBlue Airways from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 27th. Vertical Research raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and set a $17.98 price objective on the stock in a research note on Friday, June 7th. Finally, Zacks Investment Research raised shares of JetBlue Airways from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $20.45.

JetBlue Airways stock traded down $0.12 during trading hours on Thursday, hitting $18.13. The stock had a trading volume of 55,533 shares, compared to its average volume of 4,315,623. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.48. The company has a market cap of $5.63 billion, a PE ratio of 11.72, a P/E/G ratio of 0.42 and a beta of 0.90. JetBlue Airways Co. has a 12-month low of $15.19 and a 12-month high of $20.14. The stock has a 50-day simple moving average of $19.06.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. JetBlue Airways had a net margin of 5.53% and a return on equity of 11.35%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, equities analysts forecast that JetBlue Airways Co. will post 2 earnings per share for the current fiscal year.

JetBlue Airways Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

See Also: What is the Bid-Ask Spread?

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Institutional Ownership by Quarter for JetBlue Airways (NASDAQ:JBLU)

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