Neo Ivy Capital Management Acquires Shares of 271,017 JetBlue Airways Co. (NASDAQ:JBLU)

Neo Ivy Capital Management acquired a new stake in JetBlue Airways Co. (NASDAQ:JBLU) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 271,017 shares of the transportation company’s stock, valued at approximately $2,130,000.

Several other large investors have also recently bought and sold shares of JBLU. Blue Trust Inc. increased its holdings in shares of JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 2,538 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of JetBlue Airways during the fourth quarter worth about $40,000. Bogart Wealth LLC grew its holdings in shares of JetBlue Airways by 67.8% during the fourth quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $55,000 after purchasing an additional 2,850 shares during the last quarter. R Squared Ltd purchased a new position in shares of JetBlue Airways during the fourth quarter worth about $58,000. Finally, Strategic Investment Solutions Inc. IL grew its holdings in shares of JetBlue Airways by 1,769.4% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 9,347 shares of the transportation company’s stock worth $73,000 after purchasing an additional 8,847 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $4.93 on Friday. The business’s 50 day simple moving average is $4.52 and its 200-day simple moving average is $6.02. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -2.11 and a beta of 1.79. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.10 and a quick ratio of 1.18. JetBlue Airways Co. has a 12 month low of $3.34 and a 12 month high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, April 29th. The transportation company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.02. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the firm earned ($0.43) EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts forecast that JetBlue Airways Co. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Susquehanna dropped their price target on JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Wall Street Zen raised shares of JetBlue Airways to a “sell” rating in a research report on Thursday, May 15th. Citigroup raised their price objective on shares of JetBlue Airways from $4.25 to $5.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Raymond James lowered JetBlue Airways from an “outperform” rating to a “market perform” rating in a report on Thursday, May 15th. Finally, Bank of America lowered their target price on JetBlue Airways from $5.25 to $4.25 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, JetBlue Airways currently has a consensus rating of “Hold” and a consensus target price of $5.16.

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.