Cannon Global Investment Management LLC Purchases New Stake in JetBlue Airways Corporation $JBLU

Cannon Global Investment Management LLC acquired a new stake in JetBlue Airways Corporation (NASDAQ:JBLU) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 118,000 shares of the transportation company’s stock, valued at approximately $522,000.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of JetBlue Airways by 131.2% in the first quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company’s stock worth $436,000 after buying an additional 51,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in JetBlue Airways by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company’s stock worth $896,000 after purchasing an additional 8,053 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of JetBlue Airways by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company’s stock valued at $23,085,000 after buying an additional 274,892 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of JetBlue Airways in the 1st quarter valued at approximately $106,000. Finally, Cetera Investment Advisers grew its stake in JetBlue Airways by 10.7% during the 2nd quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock valued at $130,000 after acquiring an additional 2,954 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Activity at JetBlue Airways

In related news, Director Vivek Sharma sold 32,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the completion of the transaction, the director owned 35,479 shares of the company’s stock, valued at $191,941.39. The trade was a 47.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Winkelmann sold 35,473 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $4.70, for a total transaction of $166,723.10. Following the completion of the transaction, the director owned 13,379 shares of the company’s stock, valued at $62,881.30. The trade was a 72.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.41% of the company’s stock.

JetBlue Airways Price Performance

NASDAQ:JBLU opened at $6.00 on Friday. JetBlue Airways Corporation has a 52-week low of $3.87 and a 52-week high of $6.50. The company has a market cap of $2.23 billion, a P/E ratio of -3.09 and a beta of 1.73. The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.64 and a current ratio of 0.70. The stock’s 50-day simple moving average is $5.13 and its 200 day simple moving average is $5.05.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.15). The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.59) earnings per share. As a group, sell-side analysts forecast that JetBlue Airways Corporation will post -2.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on JBLU. Susquehanna raised their target price on JetBlue Airways from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Citigroup increased their target price on shares of JetBlue Airways from $4.40 to $6.60 and gave the stock a “neutral” rating in a research report on Friday. BMO Capital Markets assumed coverage on JetBlue Airways in a research note on Tuesday, March 24th. They issued a “market perform” rating and a $4.50 price objective on the stock. The Goldman Sachs Group reissued a “sell” rating and set a $3.50 price target on shares of JetBlue Airways in a research note on Monday, June 1st. Finally, Wall Street Zen upgraded JetBlue Airways from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $5.23.

JetBlue Airways Company 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.