The Manufacturers Life Insurance Company Lowers Position in JetBlue Airways Co. (NASDAQ:JBLU)

The Manufacturers Life Insurance Company lessened its stake in JetBlue Airways Co. (NASDAQ:JBLU) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,598 shares of the transportation company’s stock after selling 8,661 shares during the period. The Manufacturers Life Insurance Company’s holdings in JetBlue Airways were worth $1,069,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of JBLU. Allspring Global Investments Holdings LLC purchased a new stake in JetBlue Airways in the 1st quarter worth approximately $25,000. Trust Co. of Vermont acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC raised its stake in shares of JetBlue Airways by 169.8% during the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after buying an additional 2,377 shares during the period. Point72 DIFC Ltd acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $48,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $63,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Trading Down 1.2 %

NASDAQ JBLU opened at $6.72 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. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -2.72 and a beta of 1.92. The firm has a 50 day simple moving average of $5.66 and a 200-day simple moving average of $5.93. JetBlue Airways Co. has a one year low of $3.42 and a one year high of $7.65.

JetBlue Airways (NASDAQ:JBLU) last posted 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 during the quarter, compared to the consensus estimate of $2.40 billion. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities research analysts anticipate that JetBlue Airways Co. will post -0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

JBLU has been the subject of several recent research reports. Susquehanna increased their price objective on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore ISI lifted their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. StockNews.com upgraded JetBlue Airways to a “sell” rating in a report on Friday. Citigroup lifted 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, Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $3.00 to $6.00 in a research note on Monday, September 9th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, JetBlue Airways currently has a consensus rating of “Hold” and an average price target of $5.80.

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.