157,664 Shares in JetBlue Airways Corporation $JBLU Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in JetBlue Airways Corporation (NASDAQ:JBLU) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 157,664 shares of the transportation company’s stock, valued at approximately $903,000.

Other large investors have also bought and sold shares of the company. Trust Co. of Vermont bought a new stake in shares of JetBlue Airways in the 2nd quarter worth $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in JetBlue Airways during the second quarter worth about $27,000. Rockefeller Capital Management L.P. boosted its holdings in JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after purchasing an additional 3,373 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in JetBlue Airways by 639.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after purchasing an additional 5,049 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in JetBlue Airways in the 4th quarter valued at about $30,000. 83.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Ursula Hurley sold 77,253 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total value of $444,977.28. Following the completion of the transaction, the chief financial officer directly owned 211,099 shares of the company’s stock, valued at approximately $1,215,930.24. This trade represents a 26.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 81,253 shares of company stock valued at $465,897. 2.41% of the stock is currently owned by company insiders.

JetBlue Airways Price Performance

NASDAQ JBLU opened at $4.63 on Friday. The company has a market cap of $1.75 billion, a PE ratio of -1.94 and a beta of 1.70. JetBlue Airways Corporation has a 52 week low of $3.87 and a 52 week high of $6.62. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04. The firm’s 50-day simple moving average is $5.48 and its two-hundred day simple moving average is $5.17.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the company earned ($0.21) earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. Research analysts predict that JetBlue Airways Corporation will post -2.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on JBLU shares. Citigroup downgraded JetBlue Airways from a “neutral” rating to a “sell” rating and cut their target price for the stock from $6.60 to $5.30 in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a report on Friday, July 17th. Seaport Research Partners cut JetBlue Airways from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. The Goldman Sachs Group upped their price objective on JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a research note on Thursday, July 2nd. Finally, BMO Capital Markets raised their target price on JetBlue Airways from $6.00 to $6.75 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Six analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, JetBlue Airways currently has a consensus rating of “Reduce” and an average price target of $5.50.

JetBlue Airways 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.