Alpha Wealth Funds LLC Takes $51,000 Position in JetBlue Airways Corporation $JBLU

Alpha Wealth Funds LLC purchased a new stake in JetBlue Airways Corporation (NASDAQ:JBLU) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,000 shares of the transportation company’s stock, valued at approximately $51,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. U S Global Investors Inc. grew its position in JetBlue Airways by 25.2% during the second quarter. U S Global Investors Inc. now owns 5,021,419 shares of the transportation company’s stock worth $21,241,000 after buying an additional 1,011,279 shares in the last quarter. Amundi grew its position in JetBlue Airways by 962.8% during the first quarter. Amundi now owns 1,588,941 shares of the transportation company’s stock worth $7,659,000 after buying an additional 1,439,435 shares in the last quarter. Quantbot Technologies LP grew its position in JetBlue Airways by 64.1% during the first quarter. Quantbot Technologies LP now owns 1,119,099 shares of the transportation company’s stock worth $5,394,000 after buying an additional 437,082 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in JetBlue Airways by 85.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,560,958 shares of the transportation company’s stock worth $7,524,000 after buying an additional 717,230 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in JetBlue Airways by 29.7% during the first quarter. Public Sector Pension Investment Board now owns 964,256 shares of the transportation company’s stock worth $4,648,000 after buying an additional 221,036 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

JetBlue Airways Trading Down 2.3%

Shares of JBLU stock opened at $4.66 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 3.21. The business has a 50-day moving average price of $5.02 and a two-hundred day moving average price of $4.63. JetBlue Airways Corporation has a 12-month low of $3.34 and a 12-month high of $8.31. The firm has a market cap of $1.69 billion, a P/E ratio of -4.24 and a beta of 1.82.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.15. JetBlue Airways had a negative return on equity of 15.59% and a negative net margin of 4.22%.The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.26 billion. Equities analysts anticipate that JetBlue Airways Corporation will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Citigroup set a $5.00 target price on JetBlue Airways and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Barclays restated an “underweight” rating on shares of JetBlue Airways in a research report on Tuesday, July 29th. Susquehanna lifted their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. UBS Group lifted their price target on JetBlue Airways from $3.00 to $4.00 and gave the stock a “sell” rating in a research note on Friday, September 5th. Finally, TD Cowen lifted their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Monday, September 8th. Seven investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $5.28.

About JetBlue Airways

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.