Rafferty Asset Management LLC Boosts Stock Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

Rafferty Asset Management LLC raised its holdings in JetBlue Airways Co. (NASDAQ:JBLU) by 159.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,518 shares of the transportation company’s stock after purchasing an additional 23,067 shares during the period. Rafferty Asset Management LLC’s holdings in JetBlue Airways were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JBLU. Amundi Pioneer Asset Management Inc. increased its stake in shares of JetBlue Airways by 14.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 686,899 shares of the transportation company’s stock worth $11,237,000 after purchasing an additional 88,089 shares in the last quarter. Alliancebernstein L.P. grew its stake in JetBlue Airways by 1.3% during the first quarter. Alliancebernstein L.P. now owns 510,093 shares of the transportation company’s stock valued at $10,375,000 after acquiring an additional 6,656 shares in the last quarter. Arizona State Retirement System grew its stake in JetBlue Airways by 14.4% during the first quarter. Arizona State Retirement System now owns 22,486 shares of the transportation company’s stock valued at $457,000 after acquiring an additional 2,825 shares in the last quarter. Cibc World Markets Corp purchased a new position in JetBlue Airways during the first quarter valued at approximately $690,000. Finally, BNP Paribas Arbitrage SA grew its stake in JetBlue Airways by 25.9% during the first quarter. BNP Paribas Arbitrage SA now owns 82,190 shares of the transportation company’s stock valued at $1,672,000 after acquiring an additional 16,917 shares in the last quarter. Hedge funds and other institutional investors own 76.23% of the company’s stock.

Several equities analysts recently commented on JBLU shares. Morgan Stanley reduced their price objective on shares of JetBlue Airways from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, September 14th. MKM Partners started coverage on shares of JetBlue Airways in a research note on Thursday, June 10th. They set a “neutral” rating and a $21.00 price objective for the company. Susquehanna Bancshares reduced their price objective on shares of JetBlue Airways from $24.00 to $21.00 and set a “positive” rating for the company in a research note on Wednesday, July 28th. Susquehanna reduced their price objective on shares of JetBlue Airways from $24.00 to $21.00 and set a “positive” rating for the company in a research note on Wednesday, July 28th. Finally, Raymond James dropped their target price on shares of JetBlue Airways from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, July 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.79.

Shares of JBLU opened at $15.18 on Thursday. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of -4.52 and a beta of 1.62. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.06. JetBlue Airways Co. has a fifty-two week low of $10.93 and a fifty-two week high of $21.96. The firm has a 50 day moving average price of $15.09 and a 200-day moving average price of $17.78.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Monday, July 26th. The transportation company reported ($0.65) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.74) by $0.09. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. JetBlue Airways had a negative net margin of 28.27% and a negative return on equity of 41.70%. The business’s quarterly revenue was up 597.2% on a year-over-year basis. During the same period in the previous year, the business posted ($2.02) EPS. As a group, equities research analysts predict that JetBlue Airways Co. will post -2.13 earnings per share for the current year.

In other news, insider Scott M. Laurence sold 1,789 shares of the business’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $17.38, for a total value of $31,092.82. Following the completion of the sale, the insider now directly owns 2,710 shares in the company, valued at approximately $47,099.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 6,789 shares of company stock valued at $106,613. Company insiders own 0.61% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corp. provides air transportation services. It carries more than 30 million customers a year to 86 cities in the U.S., Caribbean, and Latin America with an average of 850 daily flights. The firm offers flights and tickets to more than 82 destinations, with accommodations such as free TV, free snacks, and most legroom.

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Institutional Ownership by Quarter for JetBlue Airways (NASDAQ:JBLU)

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