State of Tennessee Department of Treasury Sells 35,378 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

State of Tennessee Department of Treasury lessened its holdings in JetBlue Airways Co. (NASDAQ:JBLU) by 33.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,254 shares of the transportation company’s stock after selling 35,378 shares during the quarter. State of Tennessee Department of Treasury’s holdings in JetBlue Airways were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of JetBlue Airways by 14,595.7% in the fourth quarter. FMR LLC now owns 16,599,279 shares of the transportation company’s stock worth $130,470,000 after buying an additional 16,486,326 shares during the period. Renaissance Technologies LLC lifted its position in JetBlue Airways by 491.7% in the fourth quarter. Renaissance Technologies LLC now owns 4,274,457 shares of the transportation company’s stock valued at $33,597,000 after purchasing an additional 3,552,057 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of JetBlue Airways by 88.2% during the third quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock valued at $36,170,000 after purchasing an additional 2,584,350 shares during the period. Norges Bank bought a new position in shares of JetBlue Airways in the fourth quarter worth approximately $14,624,000. Finally, Jump Financial LLC increased its stake in shares of JetBlue Airways by 200.6% in the fourth quarter. Jump Financial LLC now owns 2,223,354 shares of the transportation company’s stock worth $17,476,000 after buying an additional 1,483,763 shares during the period. 83.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JBLU has been the topic of a number of recent analyst reports. Susquehanna cut their price target on shares of JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Citigroup cut their target price on JetBlue Airways from $7.15 to $4.25 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft lowered JetBlue Airways from a “buy” rating to a “hold” rating and lowered their price target for the company from $9.00 to $7.00 in a research report on Tuesday, March 4th. Raymond James raised JetBlue Airways from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research note on Monday, April 7th. Finally, Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.09.

Insider Transactions at JetBlue Airways

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

JetBlue Airways Stock Up 8.7 %

Shares of JetBlue Airways stock opened at $4.76 on Friday. JetBlue Airways Co. has a 1 year low of $3.34 and a 1 year high of $8.31. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -2.03 and a beta of 1.69. The company has a 50-day moving average of $4.85 and a 200 day moving average of $6.20. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.10 and a quick ratio of 1.18.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, April 29th. The transportation company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.02. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the business earned ($0.43) earnings per share. As a group, sell-side analysts anticipate that JetBlue Airways Co. will post -0.69 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.