CIBC Asset Management Inc Grows Stock Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

CIBC Asset Management Inc boosted its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,416 shares of the transportation company’s stock after purchasing an additional 1,823 shares during the period. CIBC Asset Management Inc’s holdings in JetBlue Airways were worth $239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JBLU. Principal Financial Group Inc. raised its position in JetBlue Airways by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,447,596 shares of the transportation company’s stock worth $11,378,000 after acquiring an additional 40,452 shares during the period. Bogart Wealth LLC grew its position in shares of JetBlue Airways by 67.8% during the 4th quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 2,850 shares during the period. Ingalls & Snyder LLC increased its stake in shares of JetBlue Airways by 57.5% in the 4th quarter. Ingalls & Snyder LLC now owns 176,900 shares of the transportation company’s stock worth $1,390,000 after purchasing an additional 64,600 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in JetBlue Airways in the 4th quarter worth $40,000. Finally, Entropy Technologies LP bought a new position in shares of JetBlue Airways in the fourth quarter worth about $787,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on JBLU shares. Bank of America reaffirmed an “underperform” rating and set a $6.50 price target on shares of JetBlue Airways in a report on Friday, January 17th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $5.50 price objective on shares of JetBlue Airways in a research note on Friday, November 15th. Barclays lifted their target price on JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research note on Thursday, November 14th. Seaport Res Ptn downgraded JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.26.

JetBlue Airways Trading Down 5.3 %

JBLU stock opened at $6.46 on Wednesday. The firm has a fifty day moving average price of $7.26 and a 200 day moving average price of $6.52. JetBlue Airways Co. has a fifty-two week low of $4.49 and a fifty-two week high of $8.31. The firm has a market cap of $2.28 billion, a PE ratio of -2.76 and a beta of 1.83. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.18 and a current ratio of 1.10.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same period in the previous year, the company posted ($0.19) earnings per share. Sell-side analysts anticipate that JetBlue Airways Co. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ursula L. Hurley sold 15,000 shares of JetBlue Airways stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total value of $112,500.00. Following the completion of the transaction, the chief financial officer now owns 41,833 shares in the company, valued at approximately $313,747.50. The trade was a 26.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nik Mittal purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the acquisition, the director now directly owns 116,443 shares in the company, valued at $714,960.02. This trade represents a 608.16 % increase in their position. The disclosure for this purchase can be found here. 1.18% of the stock is currently owned by insiders.

JetBlue Airways 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.