Paloma Partners Management Co Buys New Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

Paloma Partners Management Co bought a new stake in JetBlue Airways Co. (NASDAQ:JBLU) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,242 shares of the transportation company’s stock, valued at approximately $128,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in JetBlue Airways by 0.9% in the first quarter. Vanguard Group Inc. now owns 37,376,886 shares of the transportation company’s stock valued at $277,336,000 after purchasing an additional 317,263 shares during the period. Donald Smith & CO. Inc. raised its position in JetBlue Airways by 6.5% in the first quarter. Donald Smith & CO. Inc. now owns 13,256,094 shares of the transportation company’s stock valued at $98,360,000 after purchasing an additional 805,404 shares during the period. U S Global Investors Inc. raised its position in JetBlue Airways by 24.2% in the fourth quarter. U S Global Investors Inc. now owns 9,781,327 shares of the transportation company’s stock valued at $54,286,000 after purchasing an additional 1,903,910 shares during the period. Charles Schwab Investment Management Inc. raised its position in JetBlue Airways by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,861,383 shares of the transportation company’s stock valued at $21,431,000 after purchasing an additional 186,185 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of JetBlue Airways by 70.2% during the fourth quarter. Allianz Asset Management GmbH now owns 2,366,548 shares of the transportation company’s stock worth $13,134,000 after acquiring an additional 975,736 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Stock Performance

Shares of NASDAQ JBLU traded up $0.98 during midday trading on Tuesday, hitting $6.91. 31,848,123 shares of the company’s stock were exchanged, compared to its average volume of 14,238,863. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.54 and a quick ratio of 0.51. The stock’s 50 day moving average price is $5.76 and its 200-day moving average price is $6.14. The firm has a market cap of $2.35 billion, a P/E ratio of -2.72 and a beta of 1.93. JetBlue Airways Co. has a twelve month low of $3.42 and a twelve month high of $7.97.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JBLU. JPMorgan Chase & Co. dropped their target price on JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Susquehanna lifted their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. TD Cowen lowered their price objective on JetBlue Airways from $6.00 to $4.00 and set a “hold” rating for the company in a report on Wednesday, July 17th. Barclays lowered their price objective on JetBlue Airways from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Monday, May 6th. Finally, Evercore ISI boosted their price objective on JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.55.

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.