State of Alaska Department of Revenue reduced its holdings in JetBlue Airways Co. (NASDAQ:JBLU) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,480 shares of the transportation company’s stock after selling 1,524 shares during the quarter. State of Alaska Department of Revenue’s holdings in JetBlue Airways were worth $526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. bought a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $27,000. Global Retirement Partners LLC raised its holdings in shares of JetBlue Airways by 158.3% in the 2nd quarter. Global Retirement Partners LLC now owns 4,650 shares of the transportation company’s stock worth $51,000 after purchasing an additional 2,850 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of JetBlue Airways by 42.6% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 4,700 shares of the transportation company’s stock worth $51,000 after purchasing an additional 1,403 shares in the last quarter. Kessler Investment Group LLC increased its position in shares of JetBlue Airways by 22.0% in the second quarter. Kessler Investment Group LLC now owns 6,100 shares of the transportation company’s stock worth $66,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of JetBlue Airways by 274.0% in the second quarter. Rockefeller Capital Management L.P. now owns 6,444 shares of the transportation company’s stock worth $70,000 after acquiring an additional 4,721 shares in the last quarter. Institutional investors and hedge funds own 76.59% of the company’s stock.

JBLU stock opened at $12.24 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of -12.75 and a beta of 1.44. JetBlue Airways Co. has a 12 month low of $6.61 and a 12 month high of $21.65. The firm has a 50 day moving average of $12.07 and a two-hundred day moving average of $10.65.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, July 28th. The transportation company reported ($2.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.86) by ($0.16). The business had revenue of $215.00 million during the quarter, compared to the consensus estimate of $208.51 million. JetBlue Airways had a negative return on equity of 7.24% and a negative net margin of 4.05%. The business’s revenue was down 89.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. On average, research analysts expect that JetBlue Airways Co. will post -5.65 EPS for the current fiscal year.

In other JetBlue Airways news, insider Easwaran Sundaram sold 31,824 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $12.93, for a total value of $411,484.32. Following the completion of the sale, the insider now directly owns 113,918 shares of the company’s stock, valued at $1,472,959.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott M. Laurence sold 8,409 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $10.81, for a total transaction of $90,901.29. Following the completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at $31,965.17. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of JetBlue Airways from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $12.00 to $17.00 in a research report on Wednesday, October 7th. BidaskClub raised shares of JetBlue Airways from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Morgan Stanley lifted their target price on shares of JetBlue Airways from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, October 5th. Stifel Nicolaus lifted their target price on shares of JetBlue Airways from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. Finally, Goldman Sachs Group lifted their target price on shares of JetBlue Airways from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $15.14.

JetBlue Airways Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2019, the company operated a fleet of 63 Airbus A321 aircraft, 6 Airbus A321 neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 99 destinations in the 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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Institutional Ownership by Quarter for JetBlue Airways (NASDAQ:JBLU)

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