JetBlue Airways Co. (NASDAQ:JBLU) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,167,400 shares of the transportation company’s stock after selling 36,600 shares during the quarter. Primecap Management Co. CA’s holdings in JetBlue Airways were worth $20,778,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Intech Investment Management LLC bought a new position in JetBlue Airways during the 3rd quarter worth $455,000. LMR Partners LLP acquired a new position in shares of JetBlue Airways during the third quarter valued at $172,000. Empowered Funds LLC grew its position in shares of JetBlue Airways by 5.4% during the third quarter. Empowered Funds LLC now owns 1,289,237 shares of the transportation company’s stock worth $8,457,000 after acquiring an additional 65,660 shares during the last quarter. Privium Fund Management UK Ltd acquired a new stake in shares of JetBlue Airways in the 3rd quarter worth about $794,000. Finally, Victory Capital Management Inc. lifted its position in JetBlue Airways by 11.3% in the 3rd quarter. Victory Capital Management Inc. now owns 153,582 shares of the transportation company’s stock valued at $1,007,000 after purchasing an additional 15,641 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Trading Up 1.8 %

Shares of JetBlue Airways stock opened at $6.15 on Friday. The business has a fifty day simple moving average of $6.50 and a 200-day simple moving average of $5.92. JetBlue Airways Co. has a fifty-two week low of $4.10 and a fifty-two week high of $8.07. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -2.40 and a beta of 1.92. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The company had revenue of $2.37 billion during 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%. JetBlue Airways’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.39) EPS. On average, equities analysts forecast that JetBlue Airways Co. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on JBLU shares. Evercore ISI raised their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group reissued a “sell” rating and issued a $5.50 price objective on shares of JetBlue Airways in a report on Friday, November 15th. Susquehanna lifted their target price on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. TD Cowen increased their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Finally, Barclays raised their price target on JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a report on Thursday, November 14th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.43.

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.