Connor Clark & Lunn Investment Management Ltd. Purchases New Shares in JetBlue Airways Corporation $JBLU

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in JetBlue Airways Corporation (NASDAQ:JBLU) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,875,825 shares of the transportation company’s stock, valued at approximately $10,748,000.

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

Wall Street Analyst Weigh In

JBLU has been the subject of several research reports. Susquehanna raised their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Seaport Research Partners cut shares of JetBlue Airways from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a report on Friday, July 17th. Citigroup lowered shares of JetBlue Airways from a “neutral” rating to a “sell” rating and lowered their price target for the company from $6.60 to $5.30 in a report on Friday, August 7th. Finally, Wall Street Zen downgraded JetBlue Airways from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Six investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, JetBlue Airways has an average rating of “Reduce” and an average target price of $5.50.

JetBlue Airways Trading Down 1.8%

JBLU opened at $4.99 on Thursday. The firm has a 50 day simple moving average of $5.63 and a 200 day simple moving average of $5.23. JetBlue Airways Corporation has a fifty-two week low of $3.87 and a fifty-two week high of $6.62. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -2.09 and a beta of 1.74. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.03. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the business posted ($0.21) EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts anticipate that JetBlue Airways Corporation will post -2.31 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Ursula L. Hurley sold 77,253 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $5.76, for a total value of $444,977.28. Following the completion of the sale, the chief financial officer owned 211,099 shares in the company, valued at approximately $1,215,930.24. This represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.41% of the company’s stock.

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.