Citigroup Inc. Boosts Stake in JetBlue Airways Corporation $JBLU

Citigroup Inc. increased its stake in JetBlue Airways Corporation (NASDAQ:JBLU) by 91.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 813,375 shares of the transportation company’s stock after acquiring an additional 387,543 shares during the period. Citigroup Inc. owned about 0.22% of JetBlue Airways worth $4,002,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in JBLU. Par Capital Management Inc. lifted its stake in JetBlue Airways by 105.3% during the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after purchasing an additional 2,814,870 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of JetBlue Airways by 154.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,660,015 shares of the transportation company’s stock valued at $7,022,000 after buying an additional 1,006,850 shares in the last quarter. ING Groep NV bought a new stake in JetBlue Airways in the 3rd quarter worth approximately $4,920,000. Canada Pension Plan Investment Board purchased a new stake in JetBlue Airways in the second quarter worth approximately $2,961,000. Finally, Soviero Asset Management LP bought a new position in JetBlue Airways during the second quarter valued at approximately $2,369,000. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Down 1.4%

NASDAQ JBLU opened at $5.05 on Thursday. The company has a debt-to-equity ratio of 3.65, a current ratio of 0.74 and a quick ratio of 0.69. The stock has a market capitalization of $1.87 billion, a PE ratio of -3.02 and a beta of 1.72. JetBlue Airways Corporation has a 1 year low of $3.34 and a 1 year high of $6.53. The business’s 50-day moving average is $5.33 and its 200 day moving average is $4.96.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) EPS. Sell-side analysts forecast that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JBLU shares. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday, January 22nd. Evercore lifted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a research report on Thursday, January 29th. TD Cowen upped their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. lifted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Finally, The Goldman Sachs Group boosted their target price on JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a research note on Tuesday, January 13th. Seven equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, JetBlue Airways has an average rating of “Reduce” and a consensus target price of $5.11.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.