JetBlue Airways (NASDAQ:JBLU) Stock: Insider Nik Mittal Buys 100,000 Shares

JetBlue Airways Corporation (NASDAQ:JBLU) Director Nik Mittal bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were purchased at an average cost of $3.24 per share, with a total value of $324,000.00. Following the acquisition, the director directly owned 238,537 shares of the company’s stock, valued at approximately $772,859.88. This trade represents a 72.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

JetBlue Airways Stock Performance

NASDAQ JBLU traded up $0.36 during trading hours on Wednesday, reaching $3.54. The stock had a trading volume of 43,094,720 shares, compared to its average volume of 26,620,207. JetBlue Airways Corporation has a 52-week low of $2.16 and a 52-week high of $6.62. The stock has a fifty day moving average of $3.91 and a 200 day moving average of $4.90. The company has a debt-to-equity ratio of 5.92, a quick ratio of 0.55 and a current ratio of 0.63. The stock has a market cap of $1.34 billion, a P/E ratio of -1.32 and a beta of 1.90.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Monday, October 26th. The transportation company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.05). JetBlue Airways had a negative return on equity of 56.96% and a negative net margin of 10.01%. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the prior year, the business posted ($0.40) earnings per share. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. Sell-side analysts predict that JetBlue Airways Corporation will post -2.73 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

Several institutional investors have recently made changes to their positions in the company. Cim Investment Management Inc. lifted its stake in shares of JetBlue Airways by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 47,282 shares of the transportation company’s stock valued at $271,000 after purchasing an additional 3,203 shares during the period. Amundi boosted its holdings in JetBlue Airways by 8.9% during the first quarter. Amundi now owns 39,447 shares of the transportation company’s stock worth $174,000 after buying an additional 3,238 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in JetBlue Airways by 157.3% during 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 during the period. Kestra Advisory Services LLC grew its position in JetBlue Airways by 35.4% during the third quarter. Kestra Advisory Services LLC now owns 13,682 shares of the transportation company’s stock valued at $58,000 after buying an additional 3,577 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in JetBlue Airways by 5.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 71,087 shares of the transportation company’s stock valued at $301,000 after buying an additional 3,800 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. BMO Capital Markets reduced their target price on shares of JetBlue Airways from $6.75 to $5.25 and set a “market perform” rating for the company in a report on Monday, September 28th. Seaport Research Partners lowered shares of JetBlue Airways from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Barclays cut their price target on JetBlue Airways from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, September 11th. UBS Group raised JetBlue Airways from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $4.00 to $3.50 in a report on Monday, October 19th. Finally, Citigroup upgraded JetBlue Airways from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $5.30 to $4.50 in a research note on Tuesday, October 6th. Nine investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $4.89.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a U.S.-based passenger airline that provides scheduled air transportation to destinations across the United States, the Caribbean, Latin America and select locations in Europe. The company operates primarily from focus cities including New York, Boston, Fort Lauderdale, Orlando and Los Angeles, with a network designed to connect major metropolitan areas and leisure destinations.

JetBlue offers multiple classes and service options, including standard economy seating, extra-legroom EvenMore seats and its premium Mint service on select routes.