Public Sector Pension Investment Board Increases Stake in JetBlue Airways Corporation $JBLU

Public Sector Pension Investment Board lifted its stake in shares of JetBlue Airways Corporation (NASDAQ:JBLU) by 9.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,134,823 shares of the transportation company’s stock after buying an additional 95,908 shares during the quarter. Public Sector Pension Investment Board’s holdings in JetBlue Airways were worth $5,583,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its stake in JetBlue Airways by 12,727.3% in the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after acquiring an additional 7,000 shares during the last quarter. HUB Investment Partners LLC acquired a new stake in shares of JetBlue Airways in the 2nd quarter valued at $45,000. Forum Financial Management LP purchased a new stake in shares of JetBlue Airways during the 3rd quarter worth $59,000. Rafferty Asset Management LLC acquired a new position in shares of JetBlue Airways during the second quarter worth $51,000. Finally, NewEdge Advisors LLC grew its stake in shares of JetBlue Airways by 1,113.2% during the second quarter. NewEdge Advisors LLC now owns 13,078 shares of the transportation company’s stock worth $55,000 after purchasing an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on JBLU shares. TD Cowen raised their price target on JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Wednesday, January 7th. Morgan Stanley cut their target price on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, December 8th. Susquehanna upped their price target on JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Thursday, January 22nd. Finally, Citigroup upgraded shares of JetBlue Airways from a “sell” rating to a “neutral” rating and set a $6.00 price objective for the company in a research report on Tuesday, February 3rd. Eight analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $5.27.

JetBlue Airways Trading Up 6.4%

NASDAQ:JBLU opened at $6.46 on Thursday. The company has a market capitalization of $2.39 billion, a PE ratio of -3.87 and a beta of 1.78. JetBlue Airways Corporation has a 52-week low of $3.34 and a 52-week high of $7.72. The stock’s 50 day moving average price is $5.19 and its 200 day moving average price is $4.90. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 3.65.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. JetBlue Airways’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) earnings per share. On average, research analysts anticipate that JetBlue Airways Corporation will post -0.69 EPS for the current year.

JetBlue Airways Profile

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.