Maverick Capital Ltd. Purchases New Shares in JetBlue Airways Co. (NASDAQ:JBLU)

Maverick Capital Ltd. bought a new position in JetBlue Airways Co. (NASDAQ:JBLU - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 104,052 shares of the transportation company's stock, valued at approximately $634,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Corient Private Wealth LLC raised its stake in JetBlue Airways by 10.3% during the 4th quarter. Corient Private Wealth LLC now owns 84,818 shares of the transportation company's stock worth $471,000 after buying an additional 7,891 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of JetBlue Airways by 70.2% during the 4th quarter. Allianz Asset Management GmbH now owns 2,366,548 shares of the transportation company's stock valued at $13,134,000 after purchasing an additional 975,736 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in shares of JetBlue Airways in the 4th quarter valued at approximately $139,000. Belpointe Asset Management LLC increased its stake in JetBlue Airways by 18.2% during the 4th quarter. Belpointe Asset Management LLC now owns 24,196 shares of the transportation company's stock worth $134,000 after purchasing an additional 3,730 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in JetBlue Airways during the 4th quarter worth approximately $352,000. 83.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JBLU has been the subject of several research analyst reports. TD Cowen upped their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a "hold" rating in a report on Friday, September 6th. Citigroup upped their target price on shares of JetBlue Airways from $5.75 to $6.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Finally, Bank of America raised JetBlue Airways from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $3.00 to $6.00 in a research note on Monday, September 9th. Four investment analysts have rated the stock with a sell rating, six 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 a consensus target price of $6.00.

JetBlue Airways Stock Performance

Shares of JBLU traded down $0.01 during midday trading on Friday, reaching $6.42. The stock had a trading volume of 14,060,457 shares, compared to its average volume of 15,337,767. The firm has a 50 day simple moving average of $5.50 and a 200-day simple moving average of $5.94. The firm has a market cap of $2.18 billion, a PE ratio of -2.60 and a beta of 1.90. The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86. JetBlue Airways Co. has a one year low of $3.42 and a one year high of $7.58.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its 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. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the company posted $0.45 EPS. The firm's revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that JetBlue Airways Co. will post -1 EPS for the current year.

JetBlue Airways Company 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.