Summit Financial LLC Grows Stock Position in JetBlue Airways Co. (NASDAQ:JBLU)

Summit Financial LLC grew its position in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 32.1% during the fourth quarter, HoldingsChannel reports. The firm owned 47,341 shares of the transportation company’s stock after buying an additional 11,496 shares during the period. Summit Financial LLC’s holdings in JetBlue Airways were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Performa Ltd US LLC grew its holdings in JetBlue Airways by 96.6% during the 3rd quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 2,800 shares in the last quarter. Versant Capital Management Inc boosted its position in JetBlue Airways by 41.3% in the 4th quarter. Versant Capital Management Inc now owns 6,371 shares of the transportation company’s stock valued at $35,000 after buying an additional 1,861 shares during the last quarter. Signaturefd LLC grew its stake in shares of JetBlue Airways by 72.8% during the third quarter. Signaturefd LLC now owns 6,531 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 2,751 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of JetBlue Airways during the third quarter valued at about $47,000. Finally, Merit Financial Group LLC purchased a new stake in shares of JetBlue Airways during the third quarter worth about $48,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JBLU has been the subject of a number of recent analyst reports. Barclays started coverage on JetBlue Airways in a research note on Wednesday, March 27th. They set an “underweight” rating and a $6.00 price objective for the company. Evercore ISI lifted their price target on shares of JetBlue Airways from $5.00 to $8.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. UBS Group started coverage on shares of JetBlue Airways in a report on Wednesday, March 20th. They issued a “sell” rating and a $5.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating and upped their target price for the company from $4.00 to $9.00 in a research note on Tuesday, February 20th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, JetBlue Airways has a consensus rating of “Hold” and an average target price of $5.78.

JetBlue Airways Stock Up 0.5 %

NASDAQ:JBLU opened at $5.80 on Friday. JetBlue Airways Co. has a 52 week low of $3.42 and a 52 week high of $9.45. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 1.78. The stock has a 50 day moving average of $6.76 and a 200-day moving average of $5.70. The firm has a market capitalization of $1.97 billion, a PE ratio of -2.35 and a beta of 1.89.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. JetBlue Airways had a negative net margin of 8.79% and a negative return on equity of 5.72%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. Analysts predict that JetBlue Airways Co. will post -1.01 EPS for the current year.

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.