Western Wealth Management LLC Takes Position in JetBlue Airways Corporation $JBLU

Western Wealth Management LLC acquired a new position in JetBlue Airways Corporation (NASDAQ:JBLU) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 42,810 shares of the transportation company’s stock, valued at approximately $181,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cetera Investment Advisers raised its position in shares of JetBlue Airways by 10.7% during the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock valued at $130,000 after buying an additional 2,954 shares during the last quarter. SG Americas Securities LLC boosted its stake in JetBlue Airways by 59.2% during the second quarter. SG Americas Securities LLC now owns 102,927 shares of the transportation company’s stock worth $435,000 after buying an additional 38,258 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in JetBlue Airways by 7.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 78,237 shares of the transportation company’s stock valued at $331,000 after buying an additional 5,588 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of JetBlue Airways by 10.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 73,178 shares of the transportation company’s stock worth $310,000 after acquiring an additional 6,957 shares during the period. Finally, Geode Capital Management LLC increased its stake in JetBlue Airways by 1.7% in the second quarter. Geode Capital Management LLC now owns 7,745,777 shares of the transportation company’s stock valued at $32,770,000 after acquiring an additional 128,622 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Trading Down 0.7%

Shares of JBLU stock opened at $4.10 on Thursday. The stock has a 50-day moving average of $4.63 and a 200-day moving average of $4.70. The company has a current ratio of 0.82, a quick ratio of 0.84 and a debt-to-equity ratio of 3.42. JetBlue Airways Corporation has a 1-year low of $3.34 and a 1-year high of $8.31. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -3.11 and a beta of 1.85.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. JetBlue Airways had a negative return on equity of 19.87% and a negative net margin of 5.16%.The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the business earned ($0.16) EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts forecast that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JBLU. Susquehanna raised their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Barclays reiterated an “underweight” rating on shares of JetBlue Airways in a research report on Tuesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a report on Wednesday, October 8th. Citigroup set a $5.00 price objective on shares of JetBlue Airways and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Finally, TD Cowen boosted their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Monday, September 8th. Seven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $5.25.

JetBlue Airways Company 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.