Stock Traders Purchase High Volume of Put Options on JetBlue Airways (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 16,294 put options on the company. This represents an increase of approximately 1,858% compared to the typical volume of 832 put options.

NASDAQ JBLU opened at $10.93 on Friday. The company has a fifty day simple moving average of $15.69 and a 200 day simple moving average of $17.80. JetBlue Airways has a 12-month low of $6.61 and a 12-month high of $21.65. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 0.56. The company has a market cap of $2.65 billion, a P/E ratio of 5.69, a PEG ratio of 0.74 and a beta of 0.99.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. JetBlue Airways had a net margin of 7.03% and a return on equity of 12.06%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $0.50 EPS. JetBlue Airways’s revenue was up 3.2% compared to the same quarter last year. Sell-side analysts predict that JetBlue Airways will post 0.57 EPS for the current year.

Several research analysts have issued reports on JBLU shares. Evercore ISI restated a “buy” rating and set a $24.00 price target on shares of JetBlue Airways in a report on Monday, December 16th. UBS Group lowered shares of JetBlue Airways from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $25.00 to $12.00 in a report on Friday, March 13th. ValuEngine upgraded shares of JetBlue Airways from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 17th. Deutsche Bank upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Buckingham Research downgraded shares of JetBlue Airways from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $15.00 in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $20.06.

In other JetBlue Airways news, CEO Robin Hayes sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $18.79, for a total transaction of $46,975.00. Following the completion of the transaction, the chief executive officer now owns 460,725 shares in the company, valued at approximately $8,657,022.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Joanna Geraghty sold 2,531 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $15.00, for a total transaction of $37,965.00. Following the transaction, the chief operating officer now owns 163,898 shares of the company’s stock, valued at approximately $2,458,470. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,413 shares of company stock valued at $388,329. 0.79% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in JetBlue Airways by 31.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,513,639 shares of the transportation company’s stock valued at $178,096,000 after purchasing an additional 2,278,194 shares during the period. LSV Asset Management lifted its stake in JetBlue Airways by 3.4% during the 4th quarter. LSV Asset Management now owns 9,028,456 shares of the transportation company’s stock valued at $169,012,000 after acquiring an additional 294,541 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in JetBlue Airways by 36.7% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 6,290,507 shares of the transportation company’s stock valued at $105,366,000 after acquiring an additional 1,689,527 shares in the last quarter. AQR Capital Management LLC lifted its stake in JetBlue Airways by 28.9% during the 4th quarter. AQR Capital Management LLC now owns 5,544,538 shares of the transportation company’s stock valued at $103,794,000 after acquiring an additional 1,243,199 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in JetBlue Airways by 2,601.4% during the 3rd quarter. Millennium Management LLC now owns 4,482,298 shares of the transportation company’s stock valued at $75,078,000 after acquiring an additional 4,316,375 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

About JetBlue Airways

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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