Vanguard Group Inc. Sells 460,118 Shares of JetBlue Airways Corporation $JBLU

Vanguard Group Inc. lessened its holdings in shares of JetBlue Airways Corporation (NASDAQ:JBLU) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,315,089 shares of the transportation company’s stock after selling 460,118 shares during the quarter. Vanguard Group Inc. owned about 8.61% of JetBlue Airways worth $154,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Par Capital Management Inc. raised its stake in JetBlue Airways by 105.3% in the second 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 in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of JetBlue Airways by 154.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,660,015 shares of the transportation company’s stock worth $7,022,000 after acquiring an additional 1,006,850 shares during the last quarter. ING Groep NV purchased a new position in JetBlue Airways in the third quarter worth $4,920,000. Canada Pension Plan Investment Board bought a new position in JetBlue Airways in the second quarter valued at $2,961,000. Finally, Soviero Asset Management LP bought a new position in JetBlue Airways in the second quarter valued at $2,369,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Price Performance

Shares of JBLU stock opened at $5.12 on Wednesday. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.69 and a current ratio of 0.74. JetBlue Airways Corporation has a fifty-two week low of $3.34 and a fifty-two week high of $6.53. The firm has a market cap of $1.90 billion, a P/E ratio of -3.07 and a beta of 1.72. The business’s 50 day moving average price is $5.33 and its 200-day moving average price is $4.96.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the firm earned ($0.21) EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

JBLU has been the subject of a number of research reports. Susquehanna upped their price objective on JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. JPMorgan Chase & Co. increased their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Evercore upped their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a research note on Thursday, January 29th. Citigroup upgraded shares of JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 target price on the stock in a research report on Tuesday, February 3rd. Finally, The Goldman Sachs Group raised their price objective on JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a research note on Tuesday, January 13th. Seven investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, JetBlue Airways presently has an average rating of “Reduce” and a consensus target price of $5.11.

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.