Masters Capital Management LLC raised its stake in JetBlue Airways Co. (NASDAQ:JBLU) by 300.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,000,000 shares of the transportation company’s stock after acquiring an additional 1,500,000 shares during the period. Masters Capital Management LLC owned 0.31% of JetBlue Airways worth $22,340,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of JBLU. Crossmark Global Holdings Inc. acquired a new position in shares of JetBlue Airways during the third quarter worth approximately $658,000. State Board of Administration of Florida Retirement System boosted its holdings in JetBlue Airways by 2.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 377,084 shares of the transportation company’s stock worth $6,987,000 after purchasing an additional 9,565 shares in the last quarter. Prudential Financial Inc. boosted its holdings in JetBlue Airways by 2.8% in the third quarter. Prudential Financial Inc. now owns 2,523,650 shares of the transportation company’s stock worth $46,764,000 after purchasing an additional 68,660 shares in the last quarter. Keybank National Association OH boosted its holdings in JetBlue Airways by 87.0% in the third quarter. Keybank National Association OH now owns 17,200 shares of the transportation company’s stock worth $319,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in JetBlue Airways by 2.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 123,011 shares of the transportation company’s stock worth $2,279,000 after purchasing an additional 3,266 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.
In related news, EVP George Martin J. St sold 3,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.00, for a total value of $69,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robin Hayes sold 2,000 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $21.05, for a total transaction of $42,100.00. Following the completion of the transaction, the chief executive officer now directly owns 428,069 shares of the company’s stock, valued at approximately $9,010,852.45. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock valued at $301,980 in the last three months. Company insiders own 0.60% of the company’s stock.
JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. JetBlue Airways had a net margin of 16.35% and a return on equity of 13.57%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 EPS. sell-side analysts forecast that JetBlue Airways Co. will post 1.92 EPS for the current fiscal year.
JetBlue Airways declared that its board has initiated a stock buyback program on Wednesday, December 13th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have issued reports on the stock. Stifel Nicolaus restated a “hold” rating and set a $23.00 price target (up from $20.00) on shares of JetBlue Airways in a report on Wednesday, January 10th. Buckingham Research restated a “neutral” rating on shares of JetBlue Airways in a report on Friday, January 26th. Imperial Capital restated an “outperform” rating and set a $31.00 price target on shares of JetBlue Airways in a report on Friday, January 26th. Cowen restated a “market perform” rating and set a $23.00 price target (down from $24.00) on shares of JetBlue Airways in a report on Friday, January 26th. Finally, BidaskClub cut shares of JetBlue Airways from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $24.32.
JetBlue Airways Profile
JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.
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