Activest Wealth Management Raises Position in JetBlue Airways Co. (NASDAQ:JBLU)

Activest Wealth Management boosted its stake in JetBlue Airways Co. (NASDAQ:JBLUGet Rating) by 127.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,511 shares of the transportation company’s stock after buying an additional 4,205 shares during the quarter. Activest Wealth Management’s holdings in JetBlue Airways were worth $63,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JBLU. Dimensional Fund Advisors LP lifted its stake in JetBlue Airways by 35.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,074,312 shares of the transportation company’s stock valued at $135,659,000 after buying an additional 2,366,863 shares in the last quarter. Samlyn Capital LLC acquired a new stake in shares of JetBlue Airways in the fourth quarter valued at approximately $23,103,000. Panagora Asset Management Inc. purchased a new position in JetBlue Airways during the first quarter worth approximately $15,138,000. Bank of Montreal Can boosted its stake in JetBlue Airways by 420.0% during the fourth quarter. Bank of Montreal Can now owns 1,250,946 shares of the transportation company’s stock worth $17,813,000 after buying an additional 1,010,359 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in JetBlue Airways by 2,816.5% in the 1st quarter. Pacer Advisors Inc. now owns 959,536 shares of the transportation company’s stock valued at $14,345,000 after buying an additional 926,636 shares in the last quarter. 72.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JBLU has been the topic of several recent research reports. Susquehanna Bancshares cut shares of JetBlue Airways from a “positive” rating to a “neutral” rating and lowered their price target for the company from $14.00 to $9.00 in a research report on Tuesday, July 12th. Bank of America assumed coverage on shares of JetBlue Airways in a report on Thursday, August 4th. They set a “neutral” rating and a $10.00 price target for the company. StockNews.com cut JetBlue Airways from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Cowen cut their target price on JetBlue Airways to $10.00 in a research note on Tuesday, August 9th. Finally, Evercore ISI decreased their price target on JetBlue Airways to $8.00 in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.61.

JetBlue Airways Price Performance

NASDAQ:JBLU traded down $0.33 during midday trading on Friday, hitting $6.77. 687,865 shares of the company were exchanged, compared to its average volume of 10,507,773. The company has a fifty day simple moving average of $8.28 and a 200 day simple moving average of $10.13. JetBlue Airways Co. has a fifty-two week low of $7.08 and a fifty-two week high of $16.65. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.74 and a quick ratio of 0.72.

JetBlue Airways (NASDAQ:JBLUGet Rating) last issued its earnings results on Tuesday, August 2nd. The transportation company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.36). The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.46 billion. JetBlue Airways had a negative net margin of 5.53% and a negative return on equity of 15.20%. The firm’s revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.64) EPS. Research analysts expect that JetBlue Airways Co. will post -0.89 EPS for the current fiscal year.

JetBlue Airways Profile

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JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2021, the company operated a fleet of 63 Airbus A321 aircraft, 8 Airbus A220 aircraft, 21 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 107 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

See Also

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

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