Donald Smith & CO. Inc. Has $36.70 Million Position in JetBlue Airways Co. (NASDAQ:JBLU)

Donald Smith & CO. Inc. cut its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU - Free Report) by 58.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,668,608 shares of the transportation company's stock after selling 6,652,352 shares during the period. Donald Smith & CO. Inc. owned approximately 1.35% of JetBlue Airways worth $36,695,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Glenmede Trust Co. NA purchased a new stake in shares of JetBlue Airways in the 3rd quarter valued at approximately $66,000. Rockefeller Capital Management L.P. purchased a new position in JetBlue Airways during the third quarter valued at approximately $2,809,000. Verition Fund Management LLC boosted its stake in shares of JetBlue Airways by 78.6% during the 3rd quarter. Verition Fund Management LLC now owns 406,523 shares of the transportation company's stock valued at $2,667,000 after buying an additional 178,913 shares during the period. Erste Asset Management GmbH purchased a new position in shares of JetBlue Airways during the 3rd quarter valued at $234,000. Finally, Paloma Partners Management Co acquired a new position in shares of JetBlue Airways in the third quarter worth $411,000. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Stock Performance

JetBlue Airways stock traded down $0.29 on Tuesday, reaching $3.77. 17,350,545 shares of the stock were exchanged, compared to its average volume of 17,848,785. The stock has a market cap of $1.33 billion, a PE ratio of -1.60 and a beta of 1.69. The firm has a fifty day moving average price of $5.99 and a two-hundred day moving average price of $6.60. JetBlue Airways Co. has a twelve month low of $3.61 and a twelve 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.

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JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same quarter in the prior year, the business posted ($0.19) earnings per share. Sell-side analysts anticipate that JetBlue Airways Co. will post -0.69 EPS for the current year.

Insider Transactions at JetBlue Airways

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft downgraded JetBlue Airways from a "buy" rating to a "hold" rating and lowered their target price for the company from $9.00 to $7.00 in a research note on Tuesday, March 4th. Morgan Stanley restated an "equal weight" rating and issued a $8.00 price objective on shares of JetBlue Airways in a report on Wednesday, December 11th. Raymond James upgraded shares of JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 target price for the company in a research note on Monday. UBS Group dropped their price target on shares of JetBlue Airways from $5.00 to $3.00 and set a "sell" rating on the stock in a research note on Monday. Finally, Seaport Res Ptn lowered shares of JetBlue Airways from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $5.70.

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.