JetBlue Airways Co. (JBLU) Holdings Cut by American International Group Inc.

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American International Group Inc. lessened its position in JetBlue Airways Co. (NASDAQ:JBLU) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 636,991 shares of the transportation company’s stock after selling 6,872 shares during the period. American International Group Inc.’s holdings in JetBlue Airways were worth $12,090,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Hennessy Advisors Inc. acquired a new stake in JetBlue Airways during the 1st quarter valued at approximately $900,000. Wells Fargo & Company MN grew its stake in JetBlue Airways by 5.8% during the 1st quarter. Wells Fargo & Company MN now owns 504,533 shares of the transportation company’s stock valued at $10,253,000 after purchasing an additional 27,594 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in JetBlue Airways by 6.4% during the 1st quarter. Frontier Capital Management Co. LLC now owns 5,634,300 shares of the transportation company’s stock valued at $114,489,000 after purchasing an additional 341,071 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in JetBlue Airways by 613.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 76,000 shares of the transportation company’s stock valued at $1,533,000 after purchasing an additional 65,347 shares in the last quarter. Finally, Mackay Shields LLC acquired a new stake in JetBlue Airways during the 1st quarter valued at approximately $1,522,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

JBLU has been the subject of several research reports. Zacks Investment Research upgraded JetBlue Airways from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 11th. ValuEngine upgraded JetBlue Airways from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Imperial Capital reiterated an “outperform” rating and issued a $26.00 target price on shares of JetBlue Airways in a research report on Monday, July 16th. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered JetBlue Airways from an “overweight” rating to a “neutral” rating and set a $22.00 target price for the company. in a research report on Monday, April 30th. Finally, BidaskClub lowered JetBlue Airways from a “hold” rating to a “sell” rating in a research report on Friday, June 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. JetBlue Airways has an average rating of “Hold” and a consensus target price of $22.58.

In related news, EVP George Martin J. St sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $19.39, for a total value of $58,170.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $18.85, for a total value of $37,700.00. Following the completion of the sale, the chief executive officer now directly owns 440,803 shares in the company, valued at approximately $8,309,136.55. The disclosure for this sale can be found here. In the last three months, insiders sold 9,000 shares of company stock worth $169,930. Company insiders own 0.63% of the company’s stock.

Shares of JBLU opened at $19.30 on Wednesday. The company has a market capitalization of $5.88 billion, a PE ratio of 11.29 and a beta of 0.55. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 0.25. JetBlue Airways Co. has a 52 week low of $17.10 and a 52 week high of $23.08.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 24th. The transportation company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.93 billion. JetBlue Airways had a return on equity of 10.80% and a net margin of 11.30%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. equities analysts expect that JetBlue Airways Co. will post 1.49 earnings per share for the current year.

JetBlue Airways Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2017, the company operated a fleet of 53 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 101 destinations in 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

Further Reading: Diversification in Investing

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Institutional Ownership by Quarter for JetBlue Airways (NASDAQ:JBLU)

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