Quantbot Technologies LP Makes New Investment in JetBlue Airways Corporation $JBLU

Quantbot Technologies LP purchased a new position in shares of JetBlue Airways Corporation (NASDAQ:JBLU) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 347,496 shares of the transportation company’s stock, valued at approximately $1,991,000.

A number of other hedge funds have also recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in JetBlue Airways by 85.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company’s stock valued at $55,166,000 after purchasing an additional 5,591,470 shares in the last quarter. U S Global Investors Inc. increased its position in JetBlue Airways by 17.2% in the first quarter. U S Global Investors Inc. now owns 5,542,536 shares of the transportation company’s stock worth $24,498,000 after buying an additional 813,782 shares in the last quarter. Par Capital Management Inc. increased its position in 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 in the last quarter. Invesco Ltd. raised its stake in shares of JetBlue Airways by 10.1% in the second quarter. Invesco Ltd. now owns 4,513,312 shares of the transportation company’s stock worth $19,091,000 after buying an additional 412,921 shares during the period. Finally, Deutsche Bank AG raised its stake 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 worth $15,270,000 after buying an additional 3,089,226 shares during the period. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JBLU. TD Cowen cut their price objective on JetBlue Airways from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Monday. Susquehanna raised their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. BMO Capital Markets lifted their price target on shares of JetBlue Airways from $6.00 to $6.75 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of JetBlue Airways from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Bank of America increased their price objective on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 1st. Six research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $5.50.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $4.95 on Tuesday. The stock has a 50-day moving average price of $5.63 and a 200 day moving average price of $5.25. The stock has a market capitalization of $1.87 billion, a P/E ratio of -2.07 and a beta of 1.74. JetBlue Airways Corporation has a 12-month low of $3.87 and a 12-month high of $6.62. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 5.04.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the firm earned ($0.21) EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that JetBlue Airways Corporation will post -2.24 EPS for the current fiscal year.

Insider Activity at JetBlue Airways

In other news, Director Vivek Sharma sold 32,000 shares of JetBlue Airways stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total transaction of $173,120.00. Following the sale, the director owned 35,479 shares in the company, valued at $191,941.39. This trade represents a 47.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ursula L. Hurley sold 77,253 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total transaction of $444,977.28. Following the completion of the transaction, the chief financial officer directly owned 211,099 shares in the company, valued at $1,215,930.24. This trade represents a 26.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 111,253 shares of company stock worth $629,597. Company insiders own 2.41% of the company’s stock.

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.