PFG Investments LLC Purchases 32,075 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

PFG Investments LLC raised its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 45.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,766 shares of the transportation company’s stock after buying an additional 32,075 shares during the quarter. PFG Investments LLC’s holdings in JetBlue Airways were worth $626,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of JBLU. Total Investment Management Inc. increased its holdings in JetBlue Airways by 32.6% during the second quarter. Total Investment Management Inc. now owns 17,727 shares of the transportation company’s stock valued at $108,000 after buying an additional 4,355 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of JetBlue Airways by 101.3% during the 2nd quarter. Victory Capital Management Inc. now owns 137,941 shares of the transportation company’s stock valued at $840,000 after acquiring an additional 69,399 shares during the period. Essex Financial Services Inc. purchased a new stake in shares of JetBlue Airways in the 2nd quarter worth $98,000. Ingalls & Snyder LLC raised its holdings in JetBlue Airways by 23.1% in the 2nd quarter. Ingalls & Snyder LLC now owns 112,300 shares of the transportation company’s stock worth $684,000 after purchasing an additional 21,100 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in JetBlue Airways by 13.7% during the second quarter. Commonwealth Equity Services LLC now owns 232,849 shares of the transportation company’s stock valued at $1,418,000 after purchasing an additional 28,054 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

JBLU has been the topic of several recent research reports. Bank of America raised JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $3.00 to $6.00 in a research note on Monday. TD Cowen raised their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Finally, Citigroup dropped their price target on shares of JetBlue Airways from $6.90 to $6.50 and set a “neutral” rating for the company in a research report on Wednesday, May 29th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, JetBlue Airways has an average rating of “Hold” and an average target price of $6.05.

JetBlue Airways Price Performance

JBLU stock opened at $5.65 on Thursday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.50 and a current ratio of 0.54. The company’s fifty day moving average price is $5.53 and its 200-day moving average price is $6.01. JetBlue Airways Co. has a one year low of $3.42 and a one year high of $7.58. The company has a market capitalization of $1.92 billion, a PE ratio of -2.29 and a beta of 1.90.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.26. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 EPS. On average, equities analysts anticipate that JetBlue Airways Co. will post -1.1 EPS for the current fiscal year.

JetBlue Airways Company Profile

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.