ProShare Advisors LLC Reduces Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

ProShare Advisors LLC reduced its position in JetBlue Airways Co. (NASDAQ:JBLU) by 23.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 51,839 shares of the transportation company’s stock after selling 15,878 shares during the period. ProShare Advisors LLC’s holdings in JetBlue Airways were worth $316,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in JetBlue Airways during the first quarter worth approximately $25,000. GAMMA Investing LLC raised its position in JetBlue Airways by 169.8% in the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 2,377 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in JetBlue Airways during the 1st quarter worth $30,000. Trust Co. of Vermont purchased a new position in JetBlue Airways during the 2nd quarter worth $27,000. Finally, Resonant Capital Advisors LLC acquired a new position in JetBlue Airways in the first quarter valued at $74,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JBLU shares. Evercore ISI increased their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday. Bank of America raised JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $3.00 to $6.00 in a report on Monday, September 9th. Citigroup increased their price target on JetBlue Airways from $5.75 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, TD Cowen boosted their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.70.

JetBlue Airways Price Performance

JetBlue Airways stock opened at $6.39 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.50 and a current ratio of 0.54. JetBlue Airways Co. has a one year low of $3.42 and a one year high of $7.58. The company has a market cap of $2.17 billion, a P/E ratio of -2.59 and a beta of 1.90. The business has a fifty day moving average of $5.56 and a two-hundred day moving average of $5.93.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.26. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the business earned $0.45 earnings per share. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, analysts predict that JetBlue Airways Co. will post -1 earnings per share 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.