C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $40,000 Position in JetBlue Airways Co. (NASDAQ:JBLU)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in JetBlue Airways Co. (NASDAQ:JBLU) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 5,112 shares of the transportation company’s stock, valued at approximately $40,000.

A number of other hedge funds also recently modified their holdings of JBLU. Charles Schwab Investment Management Inc. increased 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 purchasing an additional 663,865 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of JetBlue Airways by 88.2% during the third quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock worth $36,170,000 after acquiring an additional 2,584,350 shares during the period. SG Americas Securities LLC raised its holdings in shares of JetBlue Airways by 5,648.9% during the fourth quarter. SG Americas Securities LLC now owns 1,470,062 shares of the transportation company’s stock worth $11,555,000 after acquiring an additional 1,444,491 shares during the period. Principal Financial Group Inc. lifted its position in JetBlue Airways by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,447,596 shares of the transportation company’s stock valued at $11,378,000 after acquiring an additional 40,452 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of JetBlue Airways by 8.3% during the fourth quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock worth $10,977,000 after buying an additional 107,293 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Stock Performance

NASDAQ JBLU opened at $7.02 on Friday. The stock has a market cap of $2.48 billion, a PE ratio of -3.00 and a beta of 1.83. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.18 and a current ratio of 1.10. The firm has a 50-day moving average of $7.27 and a 200-day moving average of $6.49. JetBlue Airways Co. has a 52-week low of $4.49 and a 52-week high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same period in the prior year, the business earned ($0.19) EPS. On average, sell-side analysts anticipate that JetBlue Airways Co. will post -0.69 EPS for the current year.

Insider Buying and Selling at JetBlue Airways

In other JetBlue Airways news, Director Nik Mittal acquired 100,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $6.14 per share, for a total transaction of $614,000.00. Following the purchase, the director now directly owns 116,443 shares of the company’s stock, valued at $714,960.02. This trade represents a 608.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ursula L. Hurley sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total transaction of $112,500.00. Following the completion of the sale, the chief financial officer now directly owns 41,833 shares of the company’s stock, valued at $313,747.50. This represents a 26.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on JBLU. UBS Group reduced their target price on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Morgan Stanley restated an “equal weight” rating and set a $8.00 price objective on shares of JetBlue Airways in a research note on Wednesday, December 11th. Barclays increased their price target on JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, November 14th. Citigroup upped their price objective on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Finally, Susquehanna cut their price objective on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, JetBlue Airways has a consensus rating of “Hold” and an average price target of $6.26.

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.