Assenagon Asset Management S.A. Lowers Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

Assenagon Asset Management S.A. cut its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 58.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 334,075 shares of the transportation company’s stock after selling 475,481 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.10% of JetBlue Airways worth $2,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of JBLU. Smith Anglin Financial LLC increased its stake in JetBlue Airways by 14.6% in the third quarter. Smith Anglin Financial LLC now owns 13,839 shares of the transportation company’s stock valued at $91,000 after purchasing an additional 1,763 shares during the last quarter. Jeppson Wealth Management LLC boosted its holdings in shares of JetBlue Airways by 15.7% in the 3rd quarter. Jeppson Wealth Management LLC now owns 13,650 shares of the transportation company’s stock valued at $90,000 after buying an additional 1,850 shares in the last quarter. GAMMA Investing LLC grew its position in shares of JetBlue Airways by 85.8% in the 4th quarter. GAMMA Investing LLC now owns 8,353 shares of the transportation company’s stock valued at $66,000 after buying an additional 3,857 shares during the last quarter. Bogart Wealth LLC raised its stake in JetBlue Airways by 1,951.2% during the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in JetBlue Airways in the third quarter valued at $28,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JBLU. Bank of America reaffirmed an “underperform” rating and set a $6.50 price objective on shares of JetBlue Airways in a report on Friday, January 17th. UBS Group restated a “sell” rating and set a $5.00 price target on shares of JetBlue Airways in a research note on Tuesday, November 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $8.00 price objective on shares of JetBlue Airways in a research note on Wednesday, December 11th. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research report on Thursday, November 7th. Finally, Barclays upped their price target on shares of JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, November 14th. Five investment 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.69.

JetBlue Airways Price Performance

JetBlue Airways stock opened at $7.87 on Thursday. The company has a market cap of $2.73 billion, a P/E ratio of -3.12 and a beta of 1.84. JetBlue Airways Co. has a one year low of $4.49 and a one year high of $8.31. The business has a fifty day moving average of $7.09 and a two-hundred day moving average of $6.37. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the business earned ($0.39) earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, analysts predict that JetBlue Airways Co. will post -0.83 earnings per share for the current fiscal 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.