JetBlue Airways Target of Unusually High Options Trading (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) was the recipient of unusually large options trading activity on Monday. Stock investors acquired 21,985 call options on the stock. This represents an increase of approximately 44% compared to the average volume of 15,239 call options.

Insider Transactions at JetBlue Airways

In other news, insider Gerald Alfred Spencer sold 11,879 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $6.35, for a total value of $75,431.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

Several hedge funds have recently modified their holdings of the stock. Comerica Bank acquired a new position in shares of JetBlue Airways during the second quarter valued at about $12,800,000. Osaic Holdings Inc. boosted its position in JetBlue Airways by 5.0% in the second quarter. Osaic Holdings Inc. now owns 89,790 shares of the transportation company’s stock valued at $796,000 after buying an additional 4,267 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in JetBlue Airways by 10.2% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 57,386 shares of the transportation company’s stock valued at $508,000 after buying an additional 5,330 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in JetBlue Airways in the second quarter valued at approximately $347,000. Finally, Imprint Wealth LLC purchased a new stake in JetBlue Airways in the second quarter valued at approximately $1,108,000. Institutional investors and hedge funds own 74.82% of the company’s stock.

Analysts Set New Price Targets

JBLU has been the topic of several recent analyst reports. Susquehanna reduced their price objective on shares of JetBlue Airways from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of JetBlue Airways from $8.00 to $6.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 2nd. StockNews.com initiated coverage on shares of JetBlue Airways in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Evercore ISI cut shares of JetBlue Airways from an “in-line” rating to an “underperform” rating and set a $8.00 price objective on the stock. in a research report on Tuesday, July 11th. Finally, Bank of America boosted their price target on shares of JetBlue Airways from $9.00 to $10.00 in a research report on Monday, June 26th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, JetBlue Airways currently has an average rating of “Hold” and a consensus target price of $8.17.

JetBlue Airways Stock Down 5.6 %

NASDAQ:JBLU opened at $4.69 on Tuesday. JetBlue Airways has a 1-year low of $4.67 and a 1-year high of $9.45. The company has a 50-day moving average of $6.69 and a 200 day moving average of $7.14. The firm has a market cap of $1.56 billion, a PE ratio of 58.63 and a beta of 1.68. 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 (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, August 1st. The transportation company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the firm earned ($0.47) earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, research analysts anticipate that JetBlue Airways will post 0.09 EPS for the current fiscal year.

JetBlue Airways Company Profile

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.