Proficio Capital Partners LLC Buys New Shares in JetBlue Airways Co. (NASDAQ:JBLU)

Proficio Capital Partners LLC purchased a new position in JetBlue Airways Co. (NASDAQ:JBLU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,381 shares of the transportation company’s stock, valued at approximately $89,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of JBLU. Harvest Fund Management Co. Ltd purchased a new stake in shares of JetBlue Airways during the third quarter worth about $28,000. Blue Trust Inc. grew its holdings in JetBlue Airways by 130.8% during the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock valued at $35,000 after buying an additional 2,538 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in JetBlue Airways during the 4th quarter valued at approximately $40,000. Bogart Wealth LLC raised its position in shares of JetBlue Airways by 67.8% during the fourth quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $55,000 after buying an additional 2,850 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of JetBlue Airways in the fourth quarter worth $58,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity at JetBlue Airways

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

JetBlue Airways Price Performance

Shares of JBLU opened at $5.50 on Friday. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.18 and a current ratio of 1.10. The company has a 50 day moving average price of $6.87 and a 200-day moving average price of $6.61. JetBlue Airways Co. has a fifty-two week low of $4.50 and a fifty-two week high of $8.31. The stock has a market capitalization of $1.94 billion, a PE ratio of -2.35 and a beta of 1.80.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of JetBlue Airways from a “buy” rating to a “hold” rating and lowered their target price for the stock from $9.00 to $7.00 in a report on Tuesday, March 4th. Seaport Res Ptn downgraded shares of JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $5.50 target price on shares of JetBlue Airways in a research note on Friday, November 15th. Citigroup raised their price target on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Finally, Susquehanna dropped their price objective on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.33.

About JetBlue Airways

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.