Fmr LLC Sells 15,937,919 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

FMR LLC reduced its holdings in JetBlue Airways Co. (NASDAQ:JBLU - Free Report) by 99.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 112,953 shares of the transportation company's stock after selling 15,937,919 shares during the period. FMR LLC's holdings in JetBlue Airways were worth $741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bogart Wealth LLC increased its position in shares of JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company's stock valued at $28,000 after acquiring an additional 4,000 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in JetBlue Airways in the third quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $34,000. Point72 DIFC Ltd bought a new stake in shares of JetBlue Airways during the 2nd quarter worth approximately $48,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of JetBlue Airways in the 2nd quarter valued at approximately $63,000. 83.71% of the stock is owned by institutional investors.

JetBlue Airways Stock Performance

JBLU stock traded down $0.30 during trading hours on Wednesday, hitting $7.00. 19,412,008 shares of the stock were exchanged, compared to its average volume of 16,051,594. JetBlue Airways Co. has a 12 month low of $4.49 and a 12 month high of $8.07. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $2.43 billion, a P/E ratio of -2.78 and a beta of 1.92. The company has a 50-day simple moving average of $6.59 and a two-hundred day simple moving average of $6.03.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.10. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The business had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the previous year, the company earned ($0.39) EPS. The business's revenue was up .5% on a year-over-year basis. On average, analysts forecast that JetBlue Airways Co. will post -0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on JBLU shares. Bank of America upgraded shares of JetBlue Airways from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Evercore ISI boosted their price objective 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, October 3rd. UBS Group reiterated a "sell" rating and issued a $5.00 target price on shares of JetBlue Airways in a research note on Tuesday, November 26th. Morgan Stanley reissued an "equal weight" rating and set a $8.00 price target on shares of JetBlue Airways in a research report on Wednesday, December 11th. Finally, Citigroup raised their price objective on JetBlue Airways from $6.85 to $7.60 and gave the company a "neutral" rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $6.55.

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.