Assenagon Asset Management S.A. Trims Stake in JetBlue Airways Corporation $JBLU

Assenagon Asset Management S.A. lessened its holdings in JetBlue Airways Corporation (NASDAQ:JBLU) by 9.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,650,794 shares of the transportation company’s stock after selling 174,252 shares during the period. Assenagon Asset Management S.A.’s holdings in JetBlue Airways were worth $7,297,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of JBLU. Rockefeller Capital Management L.P. raised its stake in shares of JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of JetBlue Airways by 639.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after acquiring an additional 5,049 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of JetBlue Airways during the 4th quarter worth approximately $30,000. Leonteq Securities AG purchased a new position in shares of JetBlue Airways during the 4th quarter worth approximately $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in JetBlue Airways in the 4th quarter valued at approximately $41,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at JetBlue Airways

In other news, Director Vivek Sharma sold 32,000 shares of JetBlue Airways 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 in the company, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas Winkelmann sold 35,473 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $4.70, for a total value of $166,723.10. Following the transaction, the director directly owned 13,379 shares of the company’s stock, valued at approximately $62,881.30. This represents a 72.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.41% of the company’s stock.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $6.00 on Monday. The firm has a 50 day moving average of $5.13 and a two-hundred day moving average of $5.05. The stock has a market capitalization of $2.23 billion, a PE ratio of -3.09 and a beta of 1.73. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 4.25. JetBlue Airways Corporation has a 52 week low of $3.87 and a 52 week high of $6.50.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations 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 was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.59) EPS. On average, research analysts predict that JetBlue Airways Corporation will post -2.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

JBLU has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a research report on Tuesday, April 21st. Seaport Research Partners upgraded JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Thursday, April 16th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $3.50 price objective on shares of JetBlue Airways in a research note on Monday, June 1st. Wall Street Zen upgraded JetBlue Airways from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, BMO Capital Markets started coverage on JetBlue Airways in a research note on Tuesday, March 24th. They set a “market perform” rating and a $4.50 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus 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.