JetBlue Airways Co. (NASDAQ:JBLU) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,242 shares of the transportation company’s stock after selling 3,356 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in JetBlue Airways were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Maverick Capital Ltd. purchased a new stake in JetBlue Airways in the second quarter valued at $634,000. Jade Capital Advisors LLC lifted its holdings in shares of JetBlue Airways by 800.0% in the 3rd quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock valued at $2,952,000 after purchasing an additional 400,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in JetBlue Airways by 13.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,661,742 shares of the transportation company’s stock worth $37,141,000 after buying an additional 663,865 shares during the last quarter. Privium Fund Management UK Ltd acquired a new position in JetBlue Airways during the third quarter worth approximately $794,000. Finally, Point72 Asset Management L.P. lifted its stake in JetBlue Airways by 715.3% in the second quarter. Point72 Asset Management L.P. now owns 1,630,622 shares of the transportation company’s stock valued at $9,930,000 after buying an additional 1,430,622 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Trading Up 11.1 %

Shares of JBLU stock opened at $7.53 on Thursday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -2.99 and a beta of 1.92. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98. The firm has a 50-day moving average price of $6.58 and a 200 day moving average price of $5.97. JetBlue Airways Co. has a twelve month low of $4.49 and a twelve month high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.10. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. Research analysts forecast that JetBlue Airways Co. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JBLU. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $5.50 target price on shares of JetBlue Airways in a report on Friday, November 15th. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $3.00 to $6.00 in a research note on Monday, September 9th. UBS Group reiterated a “sell” rating and issued a $5.00 price objective on shares of JetBlue Airways in a research report on Tuesday, November 26th. TD Cowen upped their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, Evercore ISI lifted their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.57.

About JetBlue Airways

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.