Ieq Capital LLC Acquires New Stake in JetBlue Airways Corporation $JBLU

Ieq Capital LLC bought a new position in shares of JetBlue Airways Corporation (NASDAQ:JBLU) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 364,631 shares of the transportation company’s stock, valued at approximately $2,089,000. Ieq Capital LLC owned approximately 0.10% of JetBlue Airways at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JBLU. Quantinno Capital Management LP grew its stake in shares of JetBlue Airways by 509.5% in the 1st quarter. Quantinno Capital Management LP now owns 649,600 shares of the transportation company’s stock worth $2,871,000 after purchasing an additional 543,017 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in JetBlue Airways during the second quarter valued at approximately $6,890,000. GSA Capital Partners LLP acquired a new stake in JetBlue Airways during the second quarter valued at approximately $1,725,000. Renaissance Technologies LLC boosted its holdings in JetBlue Airways by 235.9% during the first quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company’s stock worth $9,928,000 after buying an additional 1,577,500 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in JetBlue Airways during the second quarter worth approximately $1,375,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Trading Up 2.6%

NASDAQ:JBLU opened at $5.08 on Wednesday. The company has a market capitalization of $1.92 billion, a P/E ratio of -2.13 and a beta of 1.74. The stock’s 50 day moving average price is $5.63 and its 200 day moving average price is $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 Corporation has a 52 week low of $3.87 and a 52 week high of $6.62.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.03. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.21) earnings per share. On average, research analysts forecast that JetBlue Airways Corporation will post -2.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on JBLU. Raymond James Financial reiterated an “underperform” rating on shares of JetBlue Airways in a research report on Monday, July 6th. UBS Group upped their price objective on shares of JetBlue Airways from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Tuesday, June 23rd. Susquehanna lifted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. BMO Capital Markets upped their price target on shares of JetBlue Airways from $6.00 to $6.75 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of JetBlue Airways from a “sell” rating to a “strong sell” rating in a research note on Saturday. Six investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $5.50.

Insiders Place Their Bets

In other JetBlue Airways news, CFO Ursula L. Hurley sold 77,253 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the transaction, the chief financial officer directly owned 211,099 shares of the company’s stock, valued at $1,215,930.24. This represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vivek Sharma sold 32,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total transaction of $173,120.00. Following the transaction, the director directly owned 35,479 shares in the company, valued at $191,941.39. The trade was a 47.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 111,253 shares of company stock worth $629,597 in the last 90 days. 2.41% of the stock is owned by insiders.

JetBlue Airways 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.