JetBlue Airways Co. (NASDAQ:JBLU) was the target of a large growth in short interest in September. As of September 28th, there was short interest totalling 11,318,293 shares, a growth of 21.7% from the September 14th total of 9,296,463 shares. Based on an average trading volume of 4,010,719 shares, the short-interest ratio is currently 2.8 days. Currently, 3.6% of the shares of the stock are short sold.

In related news, CEO Robin Hayes sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $17.97, for a total value of $35,940.00. Following the completion of the transaction, the chief executive officer now owns 438,803 shares of the company’s stock, valued at approximately $7,885,289.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP George Martin J. St sold 3,000 shares of the stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $19.39, for a total transaction of $58,170.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock worth $248,150 in the last quarter. 0.63% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in JBLU. Wells Fargo & Company MN raised its stake in shares of JetBlue Airways by 5.8% during the first quarter. Wells Fargo & Company MN now owns 504,533 shares of the transportation company’s stock valued at $10,253,000 after acquiring an additional 27,594 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of JetBlue Airways by 2.9% during the first quarter. Russell Investments Group Ltd. now owns 566,713 shares of the transportation company’s stock valued at $11,475,000 after acquiring an additional 16,092 shares during the last quarter. Stifel Financial Corp bought a new position in shares of JetBlue Airways during the first quarter valued at $340,000. GSA Capital Partners LLP bought a new position in shares of JetBlue Airways during the first quarter valued at $664,000. Finally, Principal Financial Group Inc. raised its stake in shares of JetBlue Airways by 2.9% during the first quarter. Principal Financial Group Inc. now owns 1,396,759 shares of the transportation company’s stock valued at $28,382,000 after acquiring an additional 39,895 shares during the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

JBLU has been the subject of several research reports. BidaskClub downgraded shares of JetBlue Airways from a “buy” rating to a “hold” rating in a research note on Friday, August 31st. Zacks Investment Research raised shares of JetBlue Airways from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Citigroup increased their price objective on shares of JetBlue Airways from $21.50 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 3rd. Cowen dropped their price objective on shares of JetBlue Airways from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Wednesday, July 25th. Finally, Wolfe Research reissued an “underperform” rating on shares of JetBlue Airways in a research note on Friday, August 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $21.67.

JBLU stock opened at $16.36 on Friday. The firm has a market cap of $6.06 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 1.28 and a beta of 0.49. JetBlue Airways has a 52-week low of $16.03 and a 52-week high of $23.08. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 0.25.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 24th. The transportation company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.93 billion. JetBlue Airways had a net margin of 11.30% and a return on equity of 10.80%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share. On average, research analysts predict that JetBlue Airways will post 1.48 EPS for the current year.

JetBlue Airways Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2017, the company operated a fleet of 53 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 101 destinations in 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

Further Reading: Earnings Per Share (EPS)

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