Renaissance Technologies LLC Has $33.60 Million Stock Position in JetBlue Airways Co. (NASDAQ:JBLU)

Renaissance Technologies LLC grew its holdings in JetBlue Airways Co. (NASDAQ:JBLU - Free Report) by 491.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,274,457 shares of the transportation company's stock after buying an additional 3,552,057 shares during the period. Renaissance Technologies LLC owned 1.23% of JetBlue Airways worth $33,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in JBLU. Invesco Ltd. grew its position in shares of JetBlue Airways by 16.3% in the fourth quarter. Invesco Ltd. now owns 4,069,110 shares of the transportation company's stock valued at $31,983,000 after purchasing an additional 571,348 shares during the last quarter. FMR LLC boosted its stake in JetBlue Airways by 14,595.7% in the 4th quarter. FMR LLC now owns 16,599,279 shares of the transportation company's stock valued at $130,470,000 after purchasing an additional 16,486,326 shares during the period. Wells Fargo & Company MN grew its holdings in JetBlue Airways by 17.8% in the 4th quarter. Wells Fargo & Company MN now owns 246,277 shares of the transportation company's stock valued at $1,936,000 after buying an additional 37,207 shares in the last quarter. ExodusPoint Capital Management LP increased its position in JetBlue Airways by 242.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 132,141 shares of the transportation company's stock worth $1,039,000 after buying an additional 93,592 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of JetBlue Airways during the fourth quarter worth $1,420,000. 83.71% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Susquehanna lowered their price target on shares of JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft downgraded shares of JetBlue Airways from a "buy" rating to a "hold" rating and dropped their price target for the company from $9.00 to $7.00 in a research report on Tuesday, March 4th. UBS Group cut their price target on JetBlue Airways from $5.00 to $3.00 and set a "sell" rating for the company in a research note on Monday, April 7th. Raymond James upgraded 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. Finally, Barclays cut their target price on JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, JetBlue Airways currently has an average rating of "Hold" and an average target price of $5.17.

JetBlue Airways Price Performance

NASDAQ JBLU traded down $0.14 during trading on Tuesday, hitting $3.56. 33,214,885 shares of the company's stock were exchanged, compared to its average volume of 18,388,960. The company has a market cap of $1.26 billion, a PE ratio of -1.52 and a beta of 1.69. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. JetBlue Airways Co. has a fifty-two week low of $3.47 and a fifty-two week high of $8.31. The stock's 50 day moving average price is $5.66 and its two-hundred day moving average price is $6.48.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, beating the consensus estimate 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 period in the prior year, the business posted ($0.19) earnings per share. Research analysts expect that JetBlue Airways Co. will post -0.69 EPS for the current year.

Insider Buying and Selling

In other JetBlue Airways news, Director Nik Mittal bought 100,000 shares of JetBlue Airways stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost of $6.14 per share, with a total value of $614,000.00. Following the acquisition, the director now directly owns 116,443 shares of the company's stock, valued at $714,960.02. The trade was a 608.16 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ursula L. Hurley sold 15,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 41,833 shares of the company's stock, valued at approximately $313,747.50. This trade represents a 26.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

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.