Quinn Opportunity Partners LLC Has $2.52 Million Position in JetBlue Airways Co. (NASDAQ:JBLU)

Quinn Opportunity Partners LLC increased its holdings in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 115.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,000 shares of the transportation company’s stock after purchasing an additional 171,696 shares during the period. Quinn Opportunity Partners LLC owned approximately 0.09% of JetBlue Airways worth $2,515,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Entropy Technologies LP bought a new position in JetBlue Airways in the fourth quarter valued at approximately $787,000. Raymond James Financial Inc. acquired a new stake in shares of JetBlue Airways during the fourth quarter worth $1,796,000. Intech Investment Management LLC lifted its position in JetBlue Airways by 71.7% in the 4th quarter. Intech Investment Management LLC now owns 119,072 shares of the transportation company’s stock valued at $936,000 after acquiring an additional 49,712 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in JetBlue Airways in the 4th quarter worth $432,000. Finally, Empowered Funds LLC boosted its stake in JetBlue Airways by 8.3% in the 4th quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock worth $10,977,000 after purchasing an additional 107,293 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Ursula L. Hurley sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now owns 41,833 shares in the company, valued at approximately $313,747.50. This represents a 26.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nik Mittal purchased 100,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was bought at an average cost of $6.14 per share, for a total transaction of $614,000.00. Following the completion of the acquisition, the director now owns 116,443 shares in the company, valued at approximately $714,960.02. This trade represents a 608.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.18% of the company’s stock.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $3.69 on Friday. The company has a fifty day moving average price of $5.76 and a two-hundred day moving average price of $6.52. JetBlue Airways Co. has a one year low of $3.47 and a one year high of $8.31. The stock has a market cap of $1.31 billion, a P/E ratio of -1.58 and a beta of 1.69. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.10 and a quick ratio of 1.18.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same period in the prior year, the company posted ($0.19) earnings per share. As a group, equities analysts predict that JetBlue Airways Co. will post -0.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JBLU. Deutsche Bank Aktiengesellschaft lowered JetBlue Airways from a “buy” rating to a “hold” rating and cut their price target for the company from $9.00 to $7.00 in a report on Tuesday, March 4th. Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Raymond James raised JetBlue Airways from a “market perform” rating to an “outperform” rating and set a $5.00 price target for the company in a research report on Monday. Barclays lowered their price objective on shares of JetBlue Airways from $7.00 to $4.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, UBS Group reduced their target price on shares of JetBlue Airways from $5.00 to $3.00 and set a “sell” rating for the company in a report on Monday. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.45.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.