Point72 Asset Management L.P. Acquires 1,430,622 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

Point72 Asset Management L.P. raised its position in JetBlue Airways Co. (NASDAQ:JBLU - Free Report) by 715.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,630,622 shares of the transportation company's stock after purchasing an additional 1,430,622 shares during the period. Point72 Asset Management L.P. owned approximately 0.48% of JetBlue Airways worth $9,930,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Maverick Capital Ltd. bought a new stake in shares of JetBlue Airways during the second quarter worth $634,000. BNP Paribas Financial Markets increased its position in shares of JetBlue Airways by 21.1% during the first quarter. BNP Paribas Financial Markets now owns 486,676 shares of the transportation company's stock worth $3,611,000 after acquiring an additional 84,766 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in JetBlue Airways by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 291,021 shares of the transportation company's stock worth $2,159,000 after purchasing an additional 4,157 shares during the last quarter. CWM LLC boosted its holdings in JetBlue Airways by 20.2% during the first quarter. CWM LLC now owns 30,224 shares of the transportation company's stock worth $224,000 after purchasing an additional 5,069 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in JetBlue Airways during the fourth quarter worth $869,000. Institutional investors own 83.71% of the company's stock.

JetBlue Airways Stock Performance

JBLU stock traded up $0.20 during trading hours on Tuesday, reaching $6.76. The stock had a trading volume of 18,075,854 shares, compared to its average volume of 15,329,482. The stock has a market capitalization of $2.30 billion, a PE ratio of -2.64 and a beta of 1.90. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. The stock has a 50-day simple moving average of $5.51 and a 200 day simple moving average of $5.93. JetBlue Airways Co. has a fifty-two week low of $3.42 and a fifty-two week high of $7.58.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.26. The firm had revenue of $2.40 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 earnings per share. Analysts predict that JetBlue Airways Co. will post -1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on JBLU shares. TD Cowen increased their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a "hold" rating in a report on Friday, September 6th. Citigroup increased their target price on shares of 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 upgraded 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 report on Monday, September 9th. Four equities research 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's stock. According to data from MarketBeat, JetBlue Airways has an average rating of "Hold" and an average price target of $6.00.

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.