Principal Financial Group Inc. Trims Stake in JetBlue Airways Co. (NASDAQ:JBLU)

Principal Financial Group Inc. trimmed its holdings in JetBlue Airways Co. (NASDAQ:JBLU - Free Report) by 16.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,407,144 shares of the transportation company's stock after selling 267,355 shares during the quarter. Principal Financial Group Inc. owned 0.41% of JetBlue Airways worth $9,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bogart Wealth LLC increased its holdings in shares of JetBlue Airways by 1,951.2% during the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company's stock valued at $28,000 after purchasing an additional 4,000 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in JetBlue Airways in the third quarter valued at $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of JetBlue Airways in the second quarter worth about $34,000. Point72 DIFC Ltd acquired a new stake in shares of JetBlue Airways during the 2nd quarter valued at about $48,000. Finally, Glenmede Trust Co. NA purchased a new position in shares of JetBlue Airways in the 3rd quarter valued at about $66,000. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Trading Down 1.9 %

JetBlue Airways stock traded down $0.15 during trading on Tuesday, reaching $7.86. 15,234,417 shares of the company were exchanged, compared to its average volume of 15,973,212. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. The stock's 50 day simple moving average is $6.69 and its two-hundred day simple moving average is $6.17. The company has a market capitalization of $2.73 billion, a P/E ratio of -3.12 and a beta of 1.92. JetBlue Airways Co. has a 52-week low of $4.49 and a 52-week high of $8.28.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, beating 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 firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the previous year, the company posted ($0.39) EPS. The company's revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that JetBlue Airways Co. will post -0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

JBLU has been the topic of several research analyst reports. TD Cowen raised their price objective on JetBlue Airways from $5.00 to $6.00 and gave the company a "hold" rating in a report on Friday, September 6th. Bank of America raised shares of JetBlue Airways from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $3.00 to $6.00 in a report on Monday, September 9th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $5.50 price objective on shares of JetBlue Airways in a report on Friday, November 15th. Evercore ISI boosted their target price 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. Finally, Susquehanna raised their price target on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.