Intech Investment Management LLC Acquires New Position in JetBlue Airways Co. (NASDAQ:JBLU)

Intech Investment Management LLC bought a new position in shares of JetBlue Airways Co. (NASDAQ:JBLU) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 69,360 shares of the transportation company’s stock, valued at approximately $455,000.

A number of other hedge funds also recently added to or reduced their stakes in JBLU. Trust Co. of Vermont purchased a new stake in shares of JetBlue Airways in the second quarter valued at about $27,000. Bogart Wealth LLC lifted its position in shares of JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 4,000 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in JetBlue Airways in the 2nd quarter valued at about $34,000. GAMMA Investing LLC lifted its holdings in JetBlue Airways by 79.2% in the 2nd quarter. GAMMA Investing LLC now owns 6,770 shares of the transportation company’s stock valued at $41,000 after purchasing an additional 2,993 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of JetBlue Airways during the second quarter worth about $48,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Stock Performance

Shares of JetBlue Airways stock opened at $6.19 on Tuesday. The firm has a market cap of $2.15 billion, a P/E ratio of -2.46 and a beta of 1.92. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $6.54 and a 200 day simple moving average of $5.93. JetBlue Airways Co. has a fifty-two week low of $4.49 and a fifty-two week high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.39) earnings per share. Sell-side analysts predict that JetBlue Airways Co. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $3.00 to $6.00 in a report on Monday, September 9th. The Goldman Sachs Group reiterated a “sell” rating and issued a $5.50 price target on shares of JetBlue Airways in a report on Friday, November 15th. Barclays increased their target price on JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, November 14th. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Finally, UBS Group reaffirmed a “sell” rating and issued a $5.00 price objective on shares of JetBlue Airways in a research note on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.43.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.