JetBlue Airways Target of Unusually High Options Trading (NASDAQ:JBLU)

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JetBlue Airways Co. (NASDAQ:JBLU) saw some unusual options trading on Tuesday. Traders purchased 2,307 put options on the company. This is an increase of approximately 935% compared to the average volume of 223 put options.

Several research analysts have commented on the stock. TheStreet upgraded shares of JetBlue Airways from a “c+” rating to a “b-” rating in a report on Monday, November 11th. BidaskClub upgraded shares of JetBlue Airways from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Buckingham Research raised shares of JetBlue Airways from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.00 to $22.00 in a research report on Monday, October 7th. Stifel Nicolaus upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating and boosted their target price for the stock from $22.00 to $24.00 in a research note on Monday, October 21st. Finally, Zacks Investment Research upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Monday, September 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. JetBlue Airways presently has an average rating of “Hold” and an average target price of $21.36.

Shares of NASDAQ JBLU opened at $18.80 on Wednesday. The business has a 50-day moving average price of $18.90 and a 200 day moving average price of $18.25. The stock has a market cap of $5.56 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.59 and a beta of 0.78. The company has a quick ratio of 0.50, a current ratio of 0.53 and a debt-to-equity ratio of 0.43. JetBlue Airways has a 52-week low of $15.19 and a 52-week high of $19.93.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.08. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.09 billion. JetBlue Airways had a return on equity of 12.03% and a net margin of 7.19%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. Sell-side analysts anticipate that JetBlue Airways will post 1.93 earnings per share for the current year.

In other news, CFO Stephen J. Priest sold 1,810 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $19.28, for a total transaction of $34,896.80. Following the completion of the transaction, the chief financial officer now directly owns 21,850 shares of the company’s stock, valued at $421,268. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robin Hayes sold 2,500 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $19.62, for a total value of $49,050.00. The disclosure for this sale can be found here. Insiders sold a total of 12,810 shares of company stock worth $235,607 in the last ninety days. 0.79% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. boosted its stake in shares of JetBlue Airways by 18.0% during the third quarter. Donald Smith & CO. Inc. now owns 10,834,220 shares of the transportation company’s stock worth $181,473,000 after buying an additional 1,654,187 shares during the period. Renaissance Technologies LLC increased its position in JetBlue Airways by 37.9% in the 2nd quarter. Renaissance Technologies LLC now owns 8,464,904 shares of the transportation company’s stock valued at $156,516,000 after acquiring an additional 2,325,600 shares during the period. Disciplined Growth Investors Inc. MN increased its position in JetBlue Airways by 36.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 6,290,507 shares of the transportation company’s stock valued at $105,366,000 after acquiring an additional 1,689,527 shares during the period. Millennium Management LLC raised its stake in JetBlue Airways by 2,601.4% during the 3rd quarter. Millennium Management LLC now owns 4,482,298 shares of the transportation company’s stock valued at $75,078,000 after acquiring an additional 4,316,375 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in JetBlue Airways by 2.6% during the 2nd quarter. Prudential Financial Inc. now owns 3,602,069 shares of the transportation company’s stock valued at $66,603,000 after acquiring an additional 91,728 shares during the last quarter. Hedge funds and other institutional investors own 96.28% of the company’s stock.

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.

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