Connor Clark & Lunn Investment Management Ltd. Takes Position in JetBlue Airways Corporation $JBLU

Connor Clark & Lunn Investment Management Ltd. acquired a new position in JetBlue Airways Corporation (NASDAQ:JBLU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,875,825 shares of the transportation company’s stock, valued at approximately $10,748,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.50% of JetBlue Airways at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Trust Co. of Vermont acquired a new stake in JetBlue Airways in the 2nd quarter worth $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of JetBlue Airways during the second quarter valued at about $27,000. Rockefeller Capital Management L.P. raised its position in shares of JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after buying an additional 3,373 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of JetBlue Airways by 639.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after buying an additional 5,049 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of JetBlue Airways in the fourth quarter valued at about $30,000. Institutional investors own 83.71% of the company’s stock.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, CFO Ursula L. Hurley sold 77,253 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $5.76, for a total value of $444,977.28. Following the transaction, the chief financial officer directly owned 211,099 shares in the company, valued at $1,215,930.24. The trade was a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.41% of the stock is owned by corporate insiders.

JetBlue Airways Stock Performance

Shares of NASDAQ:JBLU opened at $4.99 on Thursday. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63. The business’s fifty day moving average price is $5.63 and its two-hundred day moving average price is $5.23. JetBlue Airways Corporation has a fifty-two week low of $3.87 and a fifty-two week high of $6.62. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -2.09 and a beta of 1.74.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the company earned ($0.21) EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, analysts predict that JetBlue Airways Corporation will post -2.31 EPS for the current fiscal year.

Analyst Ratings Changes

JBLU has been the topic of a number of recent research reports. Seaport Research Partners downgraded JetBlue Airways from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. BMO Capital Markets raised their price objective on JetBlue Airways from $6.00 to $6.75 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Citigroup lowered JetBlue Airways from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $6.60 to $5.30 in a report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Friday, July 17th. Finally, UBS Group raised their target price on JetBlue Airways from $4.00 to $4.50 and gave the stock a “sell” rating in a research report on Tuesday, June 23rd. Six investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, JetBlue Airways presently has an average rating of “Reduce” and an average price target of $5.50.

About JetBlue Airways

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.