Slate Path Capital LP Increases Stake in JetBlue Airways Co. (NASDAQ:JBLU)

Slate Path Capital LP increased its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU - Free Report) by 188.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,598,285 shares of the transportation company's stock after acquiring an additional 1,044,285 shares during the quarter. Slate Path Capital LP owned about 0.46% of JetBlue Airways worth $12,563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in JetBlue Airways by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 32,410,772 shares of the transportation company's stock worth $254,749,000 after acquiring an additional 121,267 shares during the last quarter. FMR LLC lifted its stake in shares of JetBlue Airways by 14,595.7% during the 4th quarter. FMR LLC now owns 16,599,279 shares of the transportation company's stock worth $130,470,000 after acquiring an additional 16,486,326 shares during the last quarter. American Century Companies Inc. boosted its holdings in JetBlue Airways by 8.4% during the 4th quarter. American Century Companies Inc. now owns 8,771,993 shares of the transportation company's stock valued at $68,948,000 after acquiring an additional 678,891 shares during the period. Charles Schwab Investment Management Inc. grew its position in JetBlue Airways by 18.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,725,671 shares of the transportation company's stock valued at $52,864,000 after acquiring an additional 1,063,929 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in JetBlue Airways by 88.2% in the third quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company's stock worth $36,170,000 after purchasing an additional 2,584,350 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lowered their price objective on shares of JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. UBS Group reduced their target price on shares of JetBlue Airways from $5.00 to $3.00 and set a "sell" rating for the company in a report on Monday, April 7th. Citigroup cut their price objective on shares of JetBlue Airways from $7.15 to $4.25 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft downgraded shares of JetBlue Airways from a "buy" rating to a "hold" rating and lowered their target price for the company from $9.00 to $7.00 in a research note on Tuesday, March 4th. Finally, Susquehanna decreased their price objective on JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.17.

JetBlue Airways Trading Down 2.2 %

Shares of JetBlue Airways stock opened at $3.59 on Tuesday. JetBlue Airways Co. has a 1 year low of $3.34 and a 1 year high of $8.31. 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 stock has a market cap of $1.27 billion, a PE ratio of -1.53 and a beta of 1.69. The firm has a fifty day moving average price of $5.37 and a 200 day moving average price of $6.37.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its earnings results on Tuesday, January 28th. The transportation company reported ($0.21) EPS for the quarter, topping analysts' consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same period in the prior year, the business earned ($0.19) EPS. Equities research analysts predict that JetBlue Airways Co. will post -0.69 earnings per share for the current year.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, Director Nik Mittal purchased 100,000 shares of JetBlue Airways stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $6.14 per share, with a total value of $614,000.00. Following the acquisition, the director now owns 116,443 shares of the company's stock, valued at $714,960.02. This trade represents a 608.16 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ursula L. Hurley sold 15,000 shares of the business'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 value of $112,500.00. Following the completion of the sale, the chief financial officer now owns 41,833 shares of the company's stock, valued at $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. Company insiders own 1.18% of the company's stock.

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.

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