Bank of Nova Scotia Takes Position in JetBlue Airways Co. (NASDAQ:JBLU)

Bank of Nova Scotia purchased a new position in shares of JetBlue Airways Co. (NASDAQ:JBLUGet Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 140,268 shares of the transportation company’s stock, valued at approximately $909,000.

Other hedge funds have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund increased its position in JetBlue Airways by 121.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 279,082 shares of the transportation company’s stock worth $1,850,000 after acquiring an additional 152,776 shares during the period. First Eagle Investment Management LLC increased its position in JetBlue Airways by 44.2% during the fourth quarter. First Eagle Investment Management LLC now owns 607,248 shares of the transportation company’s stock worth $3,935,000 after acquiring an additional 186,250 shares during the period. Petrus Trust Company LTA bought a new position in JetBlue Airways during the third quarter worth about $84,000. Global Retirement Partners LLC increased its holdings in JetBlue Airways by 195.5% in the 3rd quarter. Global Retirement Partners LLC now owns 10,580 shares of the transportation company’s stock valued at $85,000 after buying an additional 7,000 shares during the period. Finally, Donald Smith & CO. Inc. increased its holdings in JetBlue Airways by 0.3% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,095,247 shares of the transportation company’s stock valued at $53,671,000 after buying an additional 25,878 shares during the period. 66.29% of the stock is owned by institutional investors.

JetBlue Airways Price Performance

JBLU opened at $6.88 on Wednesday. The company’s 50 day moving average is $6.96 and its 200-day moving average is $7.51. JetBlue Airways Co. has a 1-year low of $6.18 and a 1-year high of $10.97. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.50 and a current ratio of 0.52.

JetBlue Airways (NASDAQ:JBLUGet Rating) last posted its quarterly earnings results on Tuesday, April 25th. The transportation company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.04. JetBlue Airways had a negative net margin of 3.07% and a negative return on equity of 3.54%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the company posted ($0.80) EPS. The firm’s quarterly revenue was up 34.1% compared to the same quarter last year. As a group, equities analysts expect that JetBlue Airways Co. will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on JBLU. Wolfe Research raised their target price on shares of JetBlue Airways from $6.00 to $7.00 in a report on Friday, January 27th. JPMorgan Chase & Co. decreased their target price on shares of JetBlue Airways from $10.00 to $8.00 in a report on Monday, May 8th. Finally, StockNews.com began coverage on shares of JetBlue Airways in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.65.

JetBlue Airways Company Profile

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JetBlue Airways Corp. provides air transportation services. It carries more than 30 million customers a year to 86 cities in the U.S., Caribbean, and Latin America with an average of 850 daily flights. The firm offers flights and tickets to more than 82 destinations, with accommodations such as free TV, free snacks, and the most legroom.

Further Reading

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Institutional Ownership by Quarter for JetBlue Airways (NASDAQ:JBLU)

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