Belpointe Asset Management LLC Buys New Position in JetBlue Airways Co. (NASDAQ:JBLU)

Belpointe Asset Management LLC purchased a new position in shares of JetBlue Airways Co. (NASDAQ:JBLU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,196 shares of the transportation company’s stock, valued at approximately $112,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc lifted its stake in shares of JetBlue Airways by 6.4% during the fourth quarter. CIBC Asset Management Inc now owns 30,416 shares of the transportation company’s stock valued at $239,000 after buying an additional 1,823 shares during the period. Xponance Inc. lifted its stake in shares of JetBlue Airways by 10.2% during the 4th quarter. Xponance Inc. now owns 22,613 shares of the transportation company’s stock worth $178,000 after purchasing an additional 2,095 shares during the period. Blue Trust Inc. boosted its holdings in shares of JetBlue Airways by 130.8% during the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after purchasing an additional 2,538 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of JetBlue Airways by 8.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 32,679 shares of the transportation company’s stock valued at $257,000 after purchasing an additional 2,666 shares during the period. Finally, Bogart Wealth LLC increased its stake in JetBlue Airways by 67.8% in the fourth quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 2,850 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JBLU. Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft cut shares of JetBlue Airways from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $7.00 in a research report on Tuesday, March 4th. Barclays dropped their price target on shares of JetBlue Airways from $7.00 to $4.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Susquehanna decreased their price target on shares of JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, Raymond James upgraded JetBlue Airways from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Monday, April 7th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, JetBlue Airways has an average rating of “Hold” and a consensus target price of $5.17.

JetBlue Airways Stock Up 7.3 %

Shares of NASDAQ JBLU opened at $3.67 on Friday. The stock has a fifty day moving average price of $5.48 and a 200 day moving average price of $6.42. The company has a market cap of $1.30 billion, a P/E ratio of -1.57 and a beta of 1.69. JetBlue Airways Co. has a 12-month low of $3.34 and a 12-month high of $8.31. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the company earned ($0.19) earnings per share. Research analysts anticipate that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Insider Activity

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

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.