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

The Manufacturers Life Insurance Company bought a new stake in JetBlue Airways Corporation (NASDAQ:JBLU) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 157,664 shares of the transportation company’s stock, valued at approximately $903,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of JetBlue Airways by 131.2% in the 1st quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company’s stock worth $436,000 after purchasing an additional 51,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of JetBlue Airways by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company’s stock worth $896,000 after buying an additional 8,053 shares during the period. Goldman Sachs Group Inc. raised its stake in JetBlue Airways by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company’s stock worth $23,085,000 after buying an additional 274,892 shares during the last quarter. United Services Automobile Association bought a new position in JetBlue Airways during the first quarter worth $106,000. Finally, Cetera Investment Advisers lifted its holdings in JetBlue Airways by 10.7% in the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock valued at $130,000 after buying an additional 2,954 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on JBLU. Citigroup downgraded JetBlue Airways from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $6.60 to $5.30 in a report on Friday, August 7th. BMO Capital Markets boosted their price objective on JetBlue Airways from $6.00 to $6.75 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group boosted 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. Susquehanna raised their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Finally, UBS Group raised their target price on JetBlue Airways from $4.00 to $4.50 and gave the stock a “sell” rating in a research note on Tuesday, June 23rd. Six analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $5.50.

JetBlue Airways Trading Up 0.4%

NASDAQ JBLU opened at $4.63 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04. JetBlue Airways Corporation has a 52 week low of $3.87 and a 52 week high of $6.62. The business has a 50 day moving average price of $5.48 and a 200-day moving average price of $5.17. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -1.94 and a beta of 1.70.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share (EPS) for the quarter, beating 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 business 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 firm posted ($0.21) EPS. JetBlue Airways’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that JetBlue Airways Corporation will post -2.33 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ursula Hurley sold 77,253 shares of JetBlue Airways stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the completion of the transaction, the chief financial officer directly owned 211,099 shares in the company, valued at $1,215,930.24. This trade represents a 26.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 81,253 shares of company stock worth $465,897 in the last ninety days. 2.41% of the stock is owned by company insiders.

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.