Rhumbline Advisers Decreases Stock Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

Rhumbline Advisers decreased its holdings in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 992,048 shares of the transportation company’s stock after selling 9,712 shares during the quarter. Rhumbline Advisers owned about 0.30% of JetBlue Airways worth $7,222,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in JetBlue Airways by 2.7% during the third quarter. Vanguard Group Inc. now owns 30,459,166 shares of the transportation company’s stock valued at $201,945,000 after purchasing an additional 804,077 shares in the last quarter. U S Global Investors Inc. raised its stake in shares of JetBlue Airways by 19.9% in the first quarter. U S Global Investors Inc. now owns 9,685,274 shares of the transportation company’s stock valued at $70,509,000 after acquiring an additional 1,609,740 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of JetBlue Airways by 18.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,650,702 shares of the transportation company’s stock valued at $62,535,000 after acquiring an additional 1,475,483 shares during the period. Donald Smith & CO. Inc. raised its stake in shares of JetBlue Airways by 18.7% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,608,384 shares of the transportation company’s stock valued at $62,262,000 after acquiring an additional 1,513,137 shares during the period. Finally, State Street Corp raised its stake in shares of JetBlue Airways by 5.7% in the first quarter. State Street Corp now owns 9,284,127 shares of the transportation company’s stock valued at $138,798,000 after acquiring an additional 499,600 shares during the period. Hedge funds and other institutional investors own 74.82% of the company’s stock.

Insiders Place Their Bets

In other JetBlue Airways news, insider Gerald Alfred Spencer sold 11,879 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $6.35, for a total transaction of $75,431.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JBLU shares. Evercore ISI downgraded shares of JetBlue Airways from an “in-line” rating to an “underperform” rating and set a $8.00 target price on the stock. in a research note on Tuesday, July 11th. Bank of America increased their target price on shares of JetBlue Airways from $9.00 to $10.00 in a research note on Monday, June 26th. JPMorgan Chase & Co. reduced their target price on shares of JetBlue Airways from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 2nd. Susquehanna reduced their price target on shares of JetBlue Airways from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 8th. Finally, StockNews.com initiated coverage on shares of JetBlue Airways in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.17.

JetBlue Airways Trading Down 0.7 %

JBLU stock opened at $5.89 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.57 and a quick ratio of 0.55. JetBlue Airways Co. has a 12 month low of $5.82 and a 12 month high of $9.45. The firm’s 50-day moving average is $7.37 and its 200 day moving average is $7.34. The company has a market capitalization of $1.96 billion, a PE ratio of 73.63 and a beta of 1.68.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, August 1st. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. JetBlue Airways had a net margin of 0.27% and a return on equity of 5.20%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the business earned ($0.47) EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts anticipate that JetBlue Airways Co. will post 0.13 EPS for the current year.

About JetBlue Airways

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2022, the company operated a fleet of 63 Airbus A321 aircraft, 14 Airbus A220 aircraft, 23 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 100 destinations in the 32 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.