JetBlue Airways Corporation (NASDAQ:JBLU)’s share price gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $19.80, but opened at $19.16. JetBlue Airways Corporation shares last traded at $18.85, with a volume of 10,006,897 shares trading hands.

Specifically, EVP James G. Hnat sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $21.98, for a total transaction of $131,880.00. Following the transaction, the executive vice president now directly owns 25,992 shares of the company’s stock, valued at $571,304.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James G. Hnat sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $22.77, for a total transaction of $113,850.00. Following the transaction, the executive vice president now directly owns 31,764 shares in the company, valued at $723,266.28. The disclosure for this sale can be found here. Insiders sold a total of 36,860 shares of company stock worth $808,350 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently commented on JBLU shares. Bank of America Corporation raised their target price on shares of JetBlue Airways Corporation from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Buckingham Research lowered shares of JetBlue Airways Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $28.00 to $24.00 in a research report on Wednesday, July 26th. Cowen and Company reaffirmed a “hold” rating on shares of JetBlue Airways Corporation in a research report on Friday, September 1st. BidaskClub lowered shares of JetBlue Airways Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Vetr lowered shares of JetBlue Airways Corporation from a “strong-buy” rating to a “buy” rating and set a $25.22 target price on the stock. in a research report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.63.

The stock’s 50-day moving average price is $21.35 and its 200-day moving average price is $21.49. The firm has a market cap of $6.20 billion, a PE ratio of 9.57 and a beta of 0.59.

JetBlue Airways Corporation (NASDAQ:JBLU) last announced its earnings results on Tuesday, July 25th. The transportation company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.08. JetBlue Airways Corporation had a net margin of 9.78% and a return on equity of 16.75%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts predict that JetBlue Airways Corporation will post $2.00 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. World Asset Management Inc increased its stake in JetBlue Airways Corporation by 0.7% during the 2nd quarter. World Asset Management Inc now owns 22,526 shares of the transportation company’s stock worth $514,000 after buying an additional 155 shares during the period. Arcus Capital Partners LLC increased its stake in JetBlue Airways Corporation by 1.5% during the 1st quarter. Arcus Capital Partners LLC now owns 11,665 shares of the transportation company’s stock worth $240,000 after buying an additional 175 shares during the period. M&T Bank Corp increased its stake in JetBlue Airways Corporation by 0.9% during the 2nd quarter. M&T Bank Corp now owns 19,383 shares of the transportation company’s stock worth $442,000 after buying an additional 181 shares during the period. Public Employees Retirement Association of Colorado increased its stake in JetBlue Airways Corporation by 2.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 10,497 shares of the transportation company’s stock worth $240,000 after buying an additional 283 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in JetBlue Airways Corporation by 2.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,310 shares of the transportation company’s stock worth $258,000 after buying an additional 310 shares during the period. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

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About JetBlue Airways Corporation

JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.

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