Pinnacle Holdings LLC Has $1.84 Million Stake in JetBlue Airways Co. (NASDAQ:JBLU)

Pinnacle Holdings LLC cut its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 92.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,483 shares of the transportation company’s stock after selling 2,735,431 shares during the quarter. Pinnacle Holdings LLC owned approximately 0.07% of JetBlue Airways worth $1,843,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of JBLU. Entropy Technologies LP acquired a new stake in shares of JetBlue Airways in the 4th quarter valued at about $787,000. Raymond James Financial Inc. bought a new stake in JetBlue Airways during the 4th quarter valued at $1,796,000. Intech Investment Management LLC lifted its position in JetBlue Airways by 71.7% in the 4th quarter. Intech Investment Management LLC now owns 119,072 shares of the transportation company’s stock valued at $936,000 after acquiring an additional 49,712 shares in the last quarter. Empowered Funds LLC raised its position in JetBlue Airways by 8.3% in the 4th quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock valued at $10,977,000 after buying an additional 107,293 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of JetBlue Airways during the fourth quarter valued at about $432,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $3.60 on Wednesday. The company has a 50 day moving average of $5.89 and a 200 day moving average of $6.56. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. The stock has a market cap of $1.28 billion, a P/E ratio of -1.54 and a beta of 1.69. JetBlue Airways Co. has a 12 month low of $3.51 and a 12 month high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm earned ($0.19) EPS. As a group, sell-side analysts forecast that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Insider Activity at JetBlue Airways

In other news, Director Nik Mittal purchased 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, for a total transaction of $614,000.00. Following the completion of the transaction, the director now directly owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. This trade represents a 608.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ursula L. Hurley sold 15,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now owns 41,833 shares in the company, valued at $313,747.50. This trade represents a 26.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Seaport Res Ptn cut shares of JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 28th. UBS Group reduced their price objective on JetBlue Airways from $5.00 to $3.00 and set a “sell” rating for the company in a research note on Monday. Morgan Stanley reiterated an “equal weight” rating and set a $8.00 target price on shares of JetBlue Airways in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft downgraded shares of JetBlue Airways from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $9.00 to $7.00 in a report on Tuesday, March 4th. Finally, Raymond James upgraded shares of JetBlue Airways from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research note on Monday. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.45.

About JetBlue Airways

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.