Wesbanco Bank Inc. Purchases 120,000 Shares of JetBlue Airways Corporation $JBLU

Wesbanco Bank Inc. raised its position in JetBlue Airways Corporation (NASDAQ:JBLU) by 80.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,000 shares of the transportation company’s stock after buying an additional 120,000 shares during the quarter. Wesbanco Bank Inc.’s holdings in JetBlue Airways were worth $1,228,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JBLU. Par Capital Management Inc. raised its stake in shares of JetBlue Airways by 105.3% during the 2nd quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock valued at $23,212,000 after purchasing an additional 2,814,870 shares during the period. Prentice Capital Management LP raised its stake in shares of JetBlue Airways by 210.4% during the 3rd quarter. Prentice Capital Management LP now owns 2,276,428 shares of the transportation company’s stock valued at $11,200,000 after purchasing an additional 1,542,959 shares during the period. Ameriprise Financial Inc. raised its stake in shares of JetBlue Airways by 154.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,660,015 shares of the transportation company’s stock valued at $7,022,000 after purchasing an additional 1,006,850 shares during the period. ING Groep NV bought a new stake in shares of JetBlue Airways during the 3rd quarter valued at $4,920,000. Finally, BNP Paribas Financial Markets raised its stake in shares of JetBlue Airways by 145.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,448,770 shares of the transportation company’s stock valued at $7,128,000 after purchasing an additional 857,882 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Thomas Winkelmann sold 35,473 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $4.70, for a total value of $166,723.10. Following the completion of the transaction, the director owned 13,379 shares of the company’s stock, valued at approximately $62,881.30. This represents a 72.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on JBLU shares. TD Cowen upgraded JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. JPMorgan Chase & Co. boosted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. The Goldman Sachs Group reduced their target price on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Wednesday, April 1st. Susquehanna boosted their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets started coverage on JetBlue Airways in a research report on Tuesday, March 24th. They set a “market perform” rating and a $4.50 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $4.88.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $5.11 on Monday. The business has a 50-day moving average of $4.80 and a 200 day moving average of $4.87. The stock has a market capitalization of $1.90 billion, a PE ratio of -2.63 and a beta of 1.69. The company has a debt-to-equity ratio of 4.25, a current ratio of 0.70 and a quick ratio of 0.64. JetBlue Airways Corporation has a 1-year low of $3.84 and a 1-year high of $6.50.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.59) EPS. As a group, sell-side analysts anticipate that JetBlue Airways Corporation will post -2.57 earnings per share 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.