Pinnacle Holdings LLC Sells 2,710,370 Shares of JetBlue Airways Corporation $JBLU

Pinnacle Holdings LLC decreased its holdings in shares of JetBlue Airways Corporation (NASDAQ:JBLU) by 91.8% in the third quarter, according to its most recent 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 owned 0.07% of JetBlue Airways worth $1,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JBLU. R Squared Ltd purchased a new position in shares of JetBlue Airways during the third quarter valued at approximately $74,000. Fox Run Management L.L.C. boosted its holdings in JetBlue Airways by 127.2% in the third quarter. Fox Run Management L.L.C. now owns 58,112 shares of the transportation company’s stock valued at $286,000 after acquiring an additional 32,529 shares in the last quarter. Greenland Capital Management LP bought a new position in JetBlue Airways in the 3rd quarter worth $320,000. Citigroup Inc. lifted its position in shares of JetBlue Airways by 91.0% in the 3rd quarter. Citigroup Inc. now owns 813,375 shares of the transportation company’s stock worth $4,002,000 after purchasing an additional 387,543 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of JetBlue Airways during the 3rd quarter valued at about $796,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $5.12 on Wednesday. The company has a market capitalization of $1.90 billion, a PE ratio of -3.07 and a beta of 1.72. The business has a fifty day moving average price of $5.33 and a 200-day moving average price of $4.96. JetBlue Airways Corporation has a 1-year low of $3.34 and a 1-year high of $6.53. 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 (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, January 27th. The transportation company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the company posted ($0.21) earnings per share. As a group, equities analysts expect that JetBlue Airways Corporation will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore raised their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a report on Thursday, January 29th. Susquehanna upped their price target on JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, January 22nd. The Goldman Sachs Group boosted their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Seven research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target 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.