Vanguard Group Inc. Cuts Position in JetBlue Airways Corporation $JBLU

Vanguard Group Inc. lessened its stake in shares of JetBlue Airways Corporation (NASDAQ:JBLU) by 1.4% in the third quarter, Holdings Channel reports. The institutional investor owned 31,315,089 shares of the transportation company’s stock after selling 460,118 shares during the period. Vanguard Group Inc. owned 0.09% of JetBlue Airways worth $154,070,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Bogart Wealth LLC boosted its stake in JetBlue Airways by 12,727.3% in the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after purchasing an additional 7,000 shares in the last quarter. HUB Investment Partners LLC purchased a new position in JetBlue Airways in the second quarter worth about $45,000. Rafferty Asset Management LLC bought a new position in shares of JetBlue Airways in the second quarter worth approximately $51,000. NewEdge Advisors LLC grew its holdings in shares of JetBlue Airways by 1,113.2% during the second quarter. NewEdge Advisors LLC now owns 13,078 shares of the transportation company’s stock valued at $55,000 after buying an additional 12,000 shares during the last quarter. Finally, Forum Financial Management LP bought a new stake in shares of JetBlue Airways during the third quarter valued at approximately $59,000. 83.71% of the stock is owned by institutional investors.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $5.12 on Wednesday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -3.07 and a beta of 1.72. The firm has a fifty day moving average price of $5.33 and a 200 day moving average price of $4.96. JetBlue Airways Corporation has a fifty-two week low of $3.34 and a fifty-two week high of $6.53. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.69 and a current ratio of 0.74.

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

Wall Street Analysts Forecast Growth

JBLU has been the topic of several recent analyst reports. Citigroup upgraded JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 target price on the stock in a research note on Tuesday, February 3rd. Susquehanna increased their price objective on JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a research report on Thursday, January 22nd. Morgan Stanley dropped their price target on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, December 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a report on Tuesday, January 13th. Seven investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, JetBlue Airways currently has an average rating of “Reduce” and an average price target of $5.11.

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.