JetBlue Airways (NASDAQ:JBLU) Director Sells $173,120.00 in Stock

JetBlue Airways Corporation (NASDAQ:JBLU) Director Vivek Sharma sold 32,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $5.41, for a total transaction of $173,120.00. Following the completion of the transaction, the director directly owned 35,479 shares of the company’s stock, valued at $191,941.39. The trade was a 47.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

JetBlue Airways Trading Down 3.2%

Shares of JBLU stock opened at $4.77 on Thursday. The firm has a 50-day moving average price of $4.93 and a 200 day moving average price of $4.95. JetBlue Airways Corporation has a twelve month low of $3.84 and a twelve month high of $6.50. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -2.46 and a beta of 1.73. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 4.25.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.15). JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm posted ($0.59) EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts forecast that JetBlue Airways Corporation will post -2.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JBLU. Wall Street Zen raised shares of JetBlue Airways from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Seaport Research Partners upgraded JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a report on Thursday, April 16th. Citigroup lowered their price target on JetBlue Airways from $6.00 to $4.40 and set a “neutral” rating for the company in a report on Friday, March 20th. UBS Group lifted their price target on JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $3.50 price target on shares of JetBlue Airways in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $4.93.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in shares of JetBlue Airways by 85.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company’s stock valued at $55,166,000 after acquiring an additional 5,591,470 shares in the last quarter. Deutsche Bank AG raised its position in shares of JetBlue Airways by 1,157.9% during the 4th quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock valued at $15,270,000 after acquiring an additional 3,089,226 shares in the last quarter. Par Capital Management Inc. raised its position in shares of JetBlue Airways by 105.3% during the 2nd quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock valued at $23,212,000 after acquiring an additional 2,814,870 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of JetBlue Airways during the 4th quarter valued at approximately $8,795,000. Finally, Renaissance Technologies LLC raised its position in shares of JetBlue Airways by 235.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company’s stock valued at $9,928,000 after acquiring an additional 1,577,500 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

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.