Wealthfront Advisers LLC Makes New Investment in JetBlue Airways Co. (NASDAQ:JBLU)

Wealthfront Advisers LLC bought a new position in JetBlue Airways Co. (NASDAQ:JBLU) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 53,504 shares of the transportation company’s stock, valued at approximately $421,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its stake in JetBlue Airways by 6.4% in the 4th quarter. CIBC Asset Management Inc now owns 30,416 shares of the transportation company’s stock worth $239,000 after acquiring an additional 1,823 shares in the last quarter. Blue Trust Inc. grew its stake in JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after acquiring an additional 2,538 shares in the last quarter. Bogart Wealth LLC grew its stake in JetBlue Airways by 67.8% in the 4th quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $55,000 after acquiring an additional 2,850 shares in the last quarter. GAMMA Investing LLC grew its stake in JetBlue Airways by 85.8% in the 4th quarter. GAMMA Investing LLC now owns 8,353 shares of the transportation company’s stock worth $66,000 after acquiring an additional 3,857 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in JetBlue Airways in the 3rd quarter worth about $28,000. 83.71% of the stock is currently owned by institutional investors.

JetBlue Airways Trading Up 1.8 %

NASDAQ JBLU opened at $5.60 on Monday. The company has a fifty day simple moving average of $6.83 and a two-hundred day simple moving average of $6.64. The stock has a market cap of $1.98 billion, a P/E ratio of -2.39 and a beta of 1.80. JetBlue Airways Co. has a 12-month low of $4.50 and a 12-month high of $8.31. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same period in the previous year, the company earned ($0.19) earnings per share. On average, analysts forecast that JetBlue Airways Co. will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other JetBlue Airways news, Director Nik Mittal bought 100,000 shares of JetBlue Airways stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average price of $6.14 per share, with a total value of $614,000.00. Following the completion of the acquisition, the director now directly owns 116,443 shares in the company, valued at approximately $714,960.02. This trade represents a 608.16 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ursula L. Hurley sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total transaction of $112,500.00. Following the transaction, the chief financial officer now directly owns 41,833 shares of the company’s stock, valued at approximately $313,747.50. This trade represents a 26.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on JBLU. UBS Group dropped their price objective on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. Susquehanna dropped their price objective on shares of JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft downgraded shares of JetBlue Airways from a “buy” rating to a “hold” rating and dropped their price objective for the company from $9.00 to $7.00 in a research note on Tuesday, March 4th. Seaport Res Ptn downgraded shares of JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Bank of America reiterated an “underperform” rating and set a $6.50 price objective on shares of JetBlue Airways in a research note on Friday, January 17th. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.33.

JetBlue Airways 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.