State Treasurer State of Michigan Sells 8,500 Shares of JetBlue Airways Co. (JBLU)

State Treasurer State of Michigan decreased its holdings in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,223 shares of the transportation company’s stock after selling 8,500 shares during the period. State Treasurer State of Michigan’s holdings in JetBlue Airways were worth $2,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in shares of JetBlue Airways by 40.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 19,470 shares of the transportation company’s stock valued at $444,000 after buying an additional 5,614 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of JetBlue Airways by 83.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 105,726 shares of the transportation company’s stock valued at $2,414,000 after buying an additional 48,216 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of JetBlue Airways during the 2nd quarter valued at $281,000. HighTower Advisors LLC lifted its stake in shares of JetBlue Airways by 50.9% during the 2nd quarter. HighTower Advisors LLC now owns 16,631 shares of the transportation company’s stock valued at $379,000 after buying an additional 5,609 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in shares of JetBlue Airways during the 2nd quarter valued at $404,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Shares of JetBlue Airways Co. (NASDAQ JBLU) opened at $19.89 on Friday. The company has a market cap of $6,377.67, a price-to-earnings ratio of 5.65 and a beta of 0.59. JetBlue Airways Co. has a one year low of $18.05 and a one year high of $24.13. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. JetBlue Airways had a return on equity of 14.20% and a net margin of 16.35%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. equities analysts forecast that JetBlue Airways Co. will post 1.91 earnings per share for the current year.

JetBlue Airways announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 13th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

A number of research analysts recently weighed in on JBLU shares. Stephens started coverage on shares of JetBlue Airways in a research note on Wednesday, November 29th. They set an “equal weight” rating and a $22.00 target price on the stock. BidaskClub cut shares of JetBlue Airways from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. JPMorgan Chase & Co. upgraded shares of JetBlue Airways from a “neutral” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Tuesday, January 30th. Cowen restated a “market perform” rating and set a $23.00 target price (down previously from $24.00) on shares of JetBlue Airways in a research note on Friday, January 26th. Finally, Deutsche Bank boosted their price target on shares of JetBlue Airways from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $24.32.

In other news, EVP James G. Hnat sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $21.05, for a total transaction of $42,100.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP George Martin J. St sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.00, for a total transaction of $69,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,545 shares of company stock worth $442,303 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

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

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