PNC Financial Services Group Inc. Sells 5,361 Shares of JetBlue Airways Corporation $JBLU

PNC Financial Services Group Inc. reduced its stake in shares of JetBlue Airways Corporation (NASDAQ:JBLU) by 22.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,463 shares of the transportation company’s stock after selling 5,361 shares during the quarter. PNC Financial Services Group Inc.’s holdings in JetBlue Airways were worth $89,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC acquired a new position in JetBlue Airways during the 1st quarter worth $53,000. Teacher Retirement System of Texas bought a new stake in shares of JetBlue Airways during the first quarter worth $61,000. Sterling Capital Management LLC lifted its stake in shares of JetBlue Airways by 833.0% during the fourth quarter. Sterling Capital Management LLC now owns 9,843 shares of the transportation company’s stock valued at $77,000 after acquiring an additional 8,788 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in JetBlue Airways in the first quarter valued at about $78,000. Finally, Sherbrooke Park Advisers LLC bought a new position in JetBlue Airways in the fourth quarter valued at about $79,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Stock Down 2.5%

JetBlue Airways stock opened at $5.14 on Thursday. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -4.67 and a beta of 1.80. The company’s 50 day simple moving average is $4.47 and its 200 day simple moving average is $4.96. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.88 and a quick ratio of 0.84. JetBlue Airways Corporation has a fifty-two week low of $3.34 and a fifty-two week high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, July 29th. The transportation company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.15. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.26 billion. JetBlue Airways had a negative net margin of 4.22% and a negative return on equity of 15.59%. As a group, sell-side analysts anticipate that JetBlue Airways Corporation will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wall Street Zen raised JetBlue Airways to a “sell” rating in a report on Thursday, May 15th. Susquehanna reiterated a “neutral” rating on shares of JetBlue Airways in a research report on Tuesday, July 29th. Barclays reissued an “underweight” rating on shares of JetBlue Airways in a research note on Tuesday, July 29th. UBS Group set a $3.00 price objective on shares of JetBlue Airways and gave the company a “sell” rating in a research note on Monday, July 7th. Finally, Citigroup set a $5.00 target price on shares of JetBlue Airways and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Eight analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $5.16.

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.