Ingalls & Snyder LLC Boosts Stake in JetBlue Airways Co. (NASDAQ:JBLU)

Ingalls & Snyder LLC grew its position in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 57.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 176,900 shares of the transportation company’s stock after acquiring an additional 64,600 shares during the period. Ingalls & Snyder LLC owned about 0.05% of JetBlue Airways worth $1,390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of JetBlue Airways in the 4th quarter worth approximately $40,000. Entropy Technologies LP purchased a new stake in shares of JetBlue Airways in the 4th quarter worth approximately $787,000. Empowered Funds LLC grew its stake in shares of JetBlue Airways by 8.3% in the 4th quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock worth $10,977,000 after buying an additional 107,293 shares during the last quarter. Spire Wealth Management grew its stake in shares of JetBlue Airways by 175.9% in the 4th quarter. Spire Wealth Management now owns 54,470 shares of the transportation company’s stock worth $428,000 after buying an additional 34,729 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of JetBlue Airways in the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In related news, Director Nik Mittal bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average cost of $6.14 per share, with a total value of $614,000.00. Following the acquisition, the director now owns 116,443 shares in the company, valued at $714,960.02. This trade represents a 608.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JBLU shares. UBS Group cut their price target on JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. Citigroup upped their price objective on JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Susquehanna lowered their price objective on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $6.50 price objective on shares of JetBlue Airways in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, JetBlue Airways presently has an average rating of “Hold” and an average price target of $6.51.

JetBlue Airways Price Performance

NASDAQ JBLU opened at $6.68 on Friday. The business’s fifty day moving average price is $7.24 and its 200-day moving average price is $6.45. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -2.85 and a beta of 1.83. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. JetBlue Airways Co. has a 1-year low of $4.49 and a 1-year high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.29% and a negative net margin of 8.57%. During the same quarter in the previous year, the business posted ($0.19) EPS. On average, equities analysts predict that JetBlue Airways Co. will post -0.58 earnings per share for the current year.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.