Pinnacle Holdings LLC Decreases Stake in JetBlue Airways Corporation $JBLU

Pinnacle Holdings LLC cut its holdings in shares of JetBlue Airways Corporation (NASDAQ:JBLU) by 91.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,096 shares of the transportation company’s stock after selling 2,710,370 shares during the period. Pinnacle Holdings LLC’s holdings in JetBlue Airways were worth $1,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Par Capital Management Inc. grew its stake in shares of 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 worth $23,212,000 after acquiring an additional 2,814,870 shares during the period. Ameriprise Financial Inc. boosted its holdings in JetBlue Airways by 154.1% in the second quarter. Ameriprise Financial Inc. now owns 1,660,015 shares of the transportation company’s stock worth $7,022,000 after purchasing an additional 1,006,850 shares during the last quarter. ING Groep NV bought a new stake in JetBlue Airways in the 3rd quarter worth approximately $4,920,000. Canada Pension Plan Investment Board purchased a new stake in JetBlue Airways during the 2nd quarter valued at $2,961,000. Finally, Soviero Asset Management LP bought a new position in shares of JetBlue Airways during the 2nd quarter valued at $2,369,000. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Down 1.9%

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

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). JetBlue Airways had a negative return on equity of 25.62% and a negative net margin of 6.64%.The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the company posted ($0.21) EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Sell-side analysts expect that JetBlue Airways Corporation will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on JBLU. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, January 22nd. Evercore upped their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Thursday, January 29th. The Goldman Sachs Group raised their price objective on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock a “sell” rating in a report on Tuesday, January 13th. Morgan Stanley reduced their target price on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. Finally, Citigroup upgraded shares of JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 price target on the stock in a research report on Tuesday, February 3rd. Seven analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, JetBlue Airways presently has a consensus rating of “Reduce” and a consensus target price of $5.11.

About JetBlue Airways

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.