Traders Buy High Volume of Put Options on JetBlue Airways (NASDAQ:JBLU)

JetBlue Airways Corporation (NASDAQ:JBLU) was the recipient of some unusual options trading activity on Thursday. Investors bought 36,886 put options on the company. This represents an increase of approximately 45% compared to the typical volume of 25,481 put options.

JetBlue Airways Price Performance

JBLU traded down $0.49 during trading on Thursday, reaching $4.56. 18,853,776 shares of the stock were exchanged, compared to its average volume of 19,395,791. The business’s 50 day moving average price is $5.33 and its two-hundred day moving average price is $4.96. The company has a debt-to-equity ratio of 3.65, a current ratio of 0.74 and a quick ratio of 0.69. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -2.73 and a beta of 1.72. JetBlue Airways has a 1 year low of $3.34 and a 1 year high of $6.50.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) EPS. As a group, equities research analysts anticipate that JetBlue Airways will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, January 22nd. Susquehanna increased their price objective on JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. The Goldman Sachs Group boosted their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock a “sell” rating in a research report on Tuesday, January 13th. Finally, Citigroup raised shares of JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 price target on the stock in a research note on Tuesday, February 3rd. Seven equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, JetBlue Airways presently has a consensus rating of “Reduce” and a consensus target price of $5.11.

Institutional Trading of JetBlue Airways

Several institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its holdings in JetBlue Airways by 639.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 5,049 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of JetBlue Airways in the fourth quarter valued at $30,000. Bogart Wealth LLC increased its stake in JetBlue Airways by 12,727.3% in the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 7,000 shares during the last quarter. Leonteq Securities AG purchased a new position in JetBlue Airways during the fourth quarter worth about $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in JetBlue Airways in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.