Quantinno Capital Management LP Acquires 543,017 Shares of JetBlue Airways Corporation $JBLU

Quantinno Capital Management LP increased its holdings in JetBlue Airways Corporation (NASDAQ:JBLU) by 509.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 649,600 shares of the transportation company’s stock after purchasing an additional 543,017 shares during the period. Quantinno Capital Management LP’s holdings in JetBlue Airways were worth $2,871,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its holdings in shares of JetBlue Airways by 85.6% during 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 acquiring an additional 5,591,470 shares during the last quarter. Deutsche Bank AG raised its position in shares of JetBlue Airways by 1,157.9% in the fourth quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock valued at $15,270,000 after purchasing an additional 3,089,226 shares during the period. Par Capital Management Inc. lifted its stake in shares of JetBlue Airways by 105.3% in 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 last quarter. Tudor Investment Corp ET AL bought a new stake in shares of JetBlue Airways during the 4th quarter worth $8,795,000. Finally, Renaissance Technologies LLC grew its stake in JetBlue Airways by 235.9% in the 1st 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 institutional investors and hedge funds.

Insider Buying and Selling at JetBlue Airways

In other news, Director Vivek Sharma sold 32,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $5.41, for a total transaction of $173,120.00. Following the completion of the transaction, the director directly owned 35,479 shares of the company’s stock, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ursula L. Hurley sold 77,253 shares of JetBlue Airways stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the sale, the chief financial officer owned 211,099 shares in the company, valued at approximately $1,215,930.24. This trade represents a 26.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 111,253 shares of company stock valued at $629,597. 2.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JBLU. UBS Group lifted their target price on shares of JetBlue Airways from $4.00 to $4.50 and gave the stock a “sell” rating in a report on Tuesday, June 23rd. Susquehanna lifted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Bank of America boosted their price objective on JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 1st. Citigroup downgraded JetBlue Airways from a “neutral” rating to a “sell” rating and decreased their target price for the company from $6.60 to $5.30 in a research note on Friday. Finally, Wall Street Zen raised JetBlue Airways from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $5.40.

JetBlue Airways Price Performance

NASDAQ JBLU opened at $6.07 on Monday. JetBlue Airways Corporation has a twelve month low of $3.87 and a twelve month high of $6.62. The stock has a market cap of $2.29 billion, a PE ratio of -2.54 and a beta of 1.74. The firm has a 50-day simple moving average of $5.55 and a 200 day simple 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) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the prior year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, research analysts forecast that JetBlue Airways Corporation will post -2.35 EPS for the current year.

About JetBlue Airways

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.