Bank of New York Mellon Corp Sells 75,132 Shares of JetBlue Airways Corporation (NASDAQ:JBLU)

Bank of New York Mellon Corp lowered its stake in shares of JetBlue Airways Corporation (NASDAQ:JBLU) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,277,825 shares of the transportation company’s stock after selling 75,132 shares during the quarter. Bank of New York Mellon Corp owned about 0.64% of JetBlue Airways worth $10,979,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JBLU. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of JetBlue Airways during the 1st quarter worth $53,000. Teacher Retirement System of Texas acquired a new stake in JetBlue Airways during the first quarter worth about $61,000. Strategic Investment Solutions Inc. IL increased its holdings in JetBlue Airways by 1,769.4% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 9,347 shares of the transportation company’s stock valued at $73,000 after buying an additional 8,847 shares during the period. Sterling Capital Management LLC raised its position in shares of JetBlue Airways by 833.0% in the 4th quarter. Sterling Capital Management LLC now owns 9,843 shares of the transportation company’s stock valued at $77,000 after buying an additional 8,788 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of JetBlue Airways in the 4th quarter valued at approximately $79,000. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Down 3.5%

Shares of NASDAQ JBLU opened at $4.41 on Monday. The company has a 50 day simple moving average of $4.66 and a 200 day simple moving average of $5.38. The company has a debt-to-equity ratio of 3.31, a current ratio of 1.01 and a quick ratio of 0.97. JetBlue Airways Corporation has a 1 year low of $3.34 and a 1 year high of $8.31. The firm has a market cap of $1.56 billion, a PE ratio of -5.38 and a beta of 1.76.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly 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 the consensus estimate of $2.17 billion. JetBlue Airways had a negative net margin of 3.12% and a negative return on equity of 11.93%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.43) earnings per share. On average, research analysts forecast that JetBlue Airways Corporation will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

JBLU has been the topic of a number of recent analyst reports. Barclays decreased their price objective on shares of JetBlue Airways from $7.00 to $4.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. UBS Group set a $3.00 price target on JetBlue Airways and gave the company a “sell” rating in a research note on Monday, July 7th. Raymond James Financial downgraded JetBlue Airways from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. Wall Street Zen raised shares of JetBlue Airways to a “sell” rating in a report on Thursday, May 15th. Finally, Susquehanna decreased 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. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.16.

JetBlue Airways 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.