Pinnacle Holdings LLC Sells 2,735,431 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

Pinnacle Holdings LLC decreased its holdings in JetBlue Airways Co. (NASDAQ:JBLU - Free Report) by 92.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 234,483 shares of the transportation company's stock after selling 2,735,431 shares during the period. Pinnacle Holdings LLC owned approximately 0.07% of JetBlue Airways worth $1,843,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in JetBlue Airways in the 4th quarter worth $787,000. Raymond James Financial Inc. bought a new stake in shares of JetBlue Airways in the fourth quarter valued at approximately $1,796,000. Intech Investment Management LLC grew its holdings in shares of JetBlue Airways by 71.7% during the 4th quarter. Intech Investment Management LLC now owns 119,072 shares of the transportation company's stock worth $936,000 after purchasing an additional 49,712 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in JetBlue Airways in the fourth quarter valued at $432,000. Finally, Empowered Funds LLC grew its holdings in shares of JetBlue Airways by 8.3% in the 4th quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company's stock worth $10,977,000 after purchasing an additional 107,293 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at JetBlue Airways

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

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JetBlue Airways Price Performance

NASDAQ:JBLU traded down $0.08 during trading hours on Monday, hitting $3.63. The company's stock had a trading volume of 8,822,932 shares, compared to its average volume of 18,278,709. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.10 and a quick ratio of 1.18. The company has a market capitalization of $1.29 billion, a P/E ratio of -1.55 and a beta of 1.69. JetBlue Airways Co. has a twelve month low of $3.47 and a twelve month high of $8.31. The stock has a fifty day simple moving average of $5.71 and a 200-day simple moving average of $6.50.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same quarter in the previous year, the business posted ($0.19) earnings per share. On average, analysts anticipate that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on JBLU shares. Raymond James raised shares of JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft lowered shares of JetBlue Airways from a "buy" rating to a "hold" rating and lowered their price target for the company from $9.00 to $7.00 in a report on Tuesday, March 4th. Susquehanna decreased their price target on JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Bank of America cut their target price on JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Finally, Barclays reduced their price objective on shares of JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, JetBlue Airways currently has a consensus rating of "Hold" and an average price target of $5.17.

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.