JPMorgan Chase & Co. Boosts Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

JPMorgan Chase & Co. raised its holdings in JetBlue Airways Co. (NASDAQ:JBLU) by 88.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,513,751 shares of the transportation company’s stock after purchasing an additional 2,584,350 shares during the period. JPMorgan Chase & Co. owned about 1.59% of JetBlue Airways worth $36,170,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in JBLU. Point72 Asset Management L.P. grew its position in shares of JetBlue Airways by 715.3% during the second quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock worth $9,930,000 after acquiring an additional 1,430,622 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of JetBlue Airways by 16.4% in the second quarter. American Century Companies Inc. now owns 8,041,025 shares of the transportation company’s stock worth $48,970,000 after buying an additional 1,135,217 shares during the period. BNP Paribas Financial Markets boosted its position in shares of JetBlue Airways by 429.7% in the third quarter. BNP Paribas Financial Markets now owns 1,232,385 shares of the transportation company’s stock worth $8,084,000 after buying an additional 999,713 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of JetBlue Airways in the third quarter worth approximately $5,311,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of JetBlue Airways by 13.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock worth $37,141,000 after acquiring an additional 663,865 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on JBLU. Susquehanna lifted their target price on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI increased their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 price target on shares of JetBlue Airways in a research report on Wednesday, December 11th. Bank of America raised JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $3.00 to $6.00 in a report on Monday, September 9th. Finally, Citigroup boosted their target price on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.55.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $7.69 on Tuesday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The firm’s 50-day moving average is $6.72 and its 200-day moving average is $6.22. JetBlue Airways Co. has a 52-week low of $4.49 and a 52-week high of $8.28. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -3.05 and a beta of 1.84.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.10. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. JetBlue Airways’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.39) EPS. Equities research analysts anticipate that JetBlue Airways Co. will post -0.85 earnings per share for the current year.

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.