Stone Ridge Asset Management LLC bought a new stake in JetBlue Airways Co. (NASDAQ:JBLU) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 78,507 shares of the transportation company’s stock, valued at approximately $1,754,000.
Other institutional investors also recently added to or reduced their stakes in the company. Focused Wealth Management Inc purchased a new stake in JetBlue Airways in the fourth quarter valued at approximately $189,000. First Dallas Securities Inc. purchased a new stake in JetBlue Airways in the fourth quarter valued at approximately $201,000. Cetera Advisors LLC purchased a new stake in JetBlue Airways in the third quarter valued at approximately $199,000. DekaBank Deutsche Girozentrale grew its holdings in JetBlue Airways by 82.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 10,653 shares of the transportation company’s stock valued at $232,000 after purchasing an additional 4,801 shares during the period. Finally, Rational Advisors LLC purchased a new stake in JetBlue Airways in the third quarter valued at approximately $217,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.
JetBlue Airways Co. (NASDAQ JBLU) opened at $22.35 on Wednesday. JetBlue Airways Co. has a 12-month low of $18.05 and a 12-month high of $24.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.48 and a current ratio of 0.50. The company has a market cap of $7,093.78, a price-to-earnings ratio of 12.52, a PEG ratio of 0.69 and a beta of 0.58.
JetBlue Airways announced that its board has authorized a stock repurchase plan on Wednesday, December 13th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, EVP George Martin J. St sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $23.00, for a total value of $69,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robin Hayes sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $22.47, for a total transaction of $44,940.00. Following the completion of the sale, the chief executive officer now directly owns 396,535 shares in the company, valued at $8,910,141.45. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $301,980 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.
JBLU has been the subject of several research reports. ValuEngine upgraded shares of JetBlue Airways from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded shares of JetBlue Airways from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Bank of America downgraded shares of JetBlue Airways from a “buy” rating to an “underperform” rating and set a $22.00 price objective for the company. in a research note on Tuesday, January 9th. BidaskClub downgraded shares of JetBlue Airways from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Finally, Stephens initiated coverage on shares of JetBlue Airways in a research note on Wednesday, November 29th. They set an “equal weight” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. JetBlue Airways presently has a consensus rating of “Hold” and a consensus target price of $24.32.
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JetBlue Airways Company 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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