Counterpoint Mutual Funds LLC Makes New Investment in JetBlue Airways Corporation $JBLU

Counterpoint Mutual Funds LLC bought a new position in shares of JetBlue Airways Corporation (NASDAQ:JBLU) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,202,384 shares of the transportation company’s stock, valued at approximately $6,890,000. Counterpoint Mutual Funds LLC owned approximately 0.32% of JetBlue Airways as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of JetBlue Airways by 85.6% in 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 purchasing an additional 5,591,470 shares during the period. Deutsche Bank AG increased its position in JetBlue Airways by 1,157.9% during the fourth quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock worth $15,270,000 after buying an additional 3,089,226 shares during the period. Par Capital Management Inc. increased its position in JetBlue Airways by 105.3% during the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after buying an additional 2,814,870 shares during the period. Tudor Investment Corp ET AL purchased a new stake in JetBlue Airways in the fourth quarter valued at approximately $8,795,000. Finally, Renaissance Technologies LLC lifted its stake in JetBlue Airways by 235.9% in the first quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company’s stock valued at $9,928,000 after buying an additional 1,577,500 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Price Performance

JetBlue Airways stock opened at $5.78 on Thursday. The company has a market cap of $2.18 billion, a P/E ratio of -2.42 and a beta of 1.74. JetBlue Airways Corporation has a one year low of $3.87 and a one year high of $6.62. The business has a fifty day moving average of $5.59 and a two-hundred day moving average of $5.24. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 0.70.

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, topping analysts’ consensus estimates of ($0.69) by $0.03. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) EPS. As a group, analysts predict that JetBlue Airways Corporation will post -2.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Susquehanna raised their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group upped their price target on shares of JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a research report on Thursday, July 2nd. BMO Capital Markets raised their price objective on shares of JetBlue Airways from $6.00 to $6.75 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Friday, July 17th. Finally, UBS Group upped their target price on shares of JetBlue Airways from $4.00 to $4.50 and gave the company a “sell” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $5.40.

Insider Activity

In other news, CFO Ursula L. Hurley sold 77,253 shares of JetBlue Airways stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 211,099 shares in the company, valued at approximately $1,215,930.24. This trade represents a 26.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vivek Sharma sold 32,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the sale, the director directly owned 35,479 shares in the company, valued at $191,941.39. This trade represents a 47.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 111,253 shares of company stock worth $629,597 over the last 90 days. 2.41% of the stock is currently 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.