Advisory Services Network LLC Cuts Stock Position in JetBlue Airways Co. (NASDAQ:JBLU)

Advisory Services Network LLC cut its holdings in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 18.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,163 shares of the transportation company’s stock after selling 3,998 shares during the quarter. Advisory Services Network LLC’s holdings in JetBlue Airways were worth $143,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in JetBlue Airways by 491.7% in the fourth quarter. Renaissance Technologies LLC now owns 4,274,457 shares of the transportation company’s stock valued at $33,597,000 after acquiring an additional 3,552,057 shares during the last quarter. Invesco Ltd. grew its holdings in JetBlue Airways by 16.3% during the fourth quarter. Invesco Ltd. now owns 4,069,110 shares of the transportation company’s stock valued at $31,983,000 after purchasing an additional 571,348 shares during the period. FMR LLC increased its position in JetBlue Airways by 14,595.7% in the fourth quarter. FMR LLC now owns 16,599,279 shares of the transportation company’s stock worth $130,470,000 after buying an additional 16,486,326 shares during the last quarter. Wells Fargo & Company MN increased its position in JetBlue Airways by 17.8% in the fourth quarter. Wells Fargo & Company MN now owns 246,277 shares of the transportation company’s stock worth $1,936,000 after buying an additional 37,207 shares during the last quarter. Finally, ExodusPoint Capital Management LP raised its stake in shares of JetBlue Airways by 242.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 132,141 shares of the transportation company’s stock valued at $1,039,000 after buying an additional 93,592 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JBLU has been the subject of several recent research reports. Bank of America reduced their target price on shares of JetBlue Airways from $5.25 to $4.25 and set an “underperform” rating for the company in a research note on Thursday, April 3rd. Susquehanna reduced their price target on JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. UBS Group cut their target price on JetBlue Airways from $5.00 to $3.00 and set a “sell” rating for the company in a research note on Monday, April 7th. Citigroup lowered their price target on shares of JetBlue Airways from $7.15 to $4.25 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Deutsche Bank Aktiengesellschaft cut shares of JetBlue Airways from a “buy” rating to a “hold” rating and lowered their target price for the stock from $9.00 to $7.00 in a research note on Tuesday, March 4th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.17.

JetBlue Airways Price Performance

Shares of JetBlue Airways stock opened at $3.67 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. JetBlue Airways Co. has a 12 month low of $3.34 and a 12 month high of $8.31. The stock has a 50 day moving average of $5.43 and a 200 day moving average of $6.40. The firm has a market cap of $1.30 billion, a PE ratio of -1.57 and a beta of 1.69.

JetBlue Airways (NASDAQ:JBLU) last announced 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 quarter in the previous year, the business posted ($0.19) EPS. On average, research analysts expect that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Insider Activity at JetBlue Airways

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

JetBlue Airways 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.