Victory Capital Management Inc. Sells 96,996 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

Victory Capital Management Inc. lessened its holdings in shares of JetBlue Airways Co. (NASDAQ:JBLU - Free Report) by 63.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,586 shares of the transportation company's stock after selling 96,996 shares during the period. Victory Capital Management Inc.'s holdings in JetBlue Airways were worth $445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in JetBlue Airways by 88.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company's stock valued at $36,170,000 after buying an additional 2,584,350 shares during the period. SG Americas Securities LLC increased its stake in shares of JetBlue Airways by 5,648.9% during the fourth quarter. SG Americas Securities LLC now owns 1,470,062 shares of the transportation company's stock valued at $11,555,000 after acquiring an additional 1,444,491 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of JetBlue Airways by 18.8% during the fourth 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 period. BNP Paribas Financial Markets raised its holdings in JetBlue Airways by 429.7% during the third quarter. BNP Paribas Financial Markets now owns 1,232,385 shares of the transportation company's stock worth $8,084,000 after purchasing an additional 999,713 shares in the last quarter. Finally, RBF Capital LLC acquired a new stake in JetBlue Airways in the third quarter worth approximately $4,264,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms have recently commented on JBLU. Bank of America reissued an "underperform" rating and issued a $6.50 price objective on shares of JetBlue Airways in a research note on Friday, January 17th. Morgan Stanley reiterated an "equal weight" rating and issued a $8.00 price target on shares of JetBlue Airways in a research report on Wednesday, December 11th. Citigroup raised their price objective on shares of JetBlue Airways from $6.85 to $7.60 and gave the company a "neutral" rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft downgraded shares of JetBlue Airways from a "buy" rating to a "hold" rating and dropped their target price for the stock from $9.00 to $7.00 in a report on Tuesday, March 4th. Finally, UBS Group reduced their target price on shares of JetBlue Airways from $5.50 to $5.00 and set a "sell" rating for the company in a report on Wednesday, January 29th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $6.33.

JetBlue Airways Trading Down 2.5 %

JetBlue Airways stock traded down $0.14 during midday trading on Wednesday, reaching $5.42. The stock had a trading volume of 16,691,117 shares, compared to its average volume of 16,969,946. JetBlue Airways Co. has a twelve month low of $4.50 and a twelve month 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 firm has a market cap of $1.91 billion, a price-to-earnings ratio of -2.32 and a beta of 1.80. The firm's fifty day simple moving average is $6.54 and its two-hundred day simple moving average is $6.66.

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 the consensus estimate 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 previous year, the firm earned ($0.19) earnings per share. Equities analysts anticipate that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, 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 owns 41,833 shares of the company's stock, valued at $313,747.50. This trade represents a 26.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Nik Mittal purchased 100,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $6.14 per share, for a total transaction of $614,000.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. 1.18% of the stock is currently owned by 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.