Weiss Asset Management LP Invests $1.76 Million in JetBlue Airways Co. (NASDAQ:JBLU)

Weiss Asset Management LP bought a new position in shares of JetBlue Airways Co. (NASDAQ:JBLU - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 268,376 shares of the transportation company's stock, valued at approximately $1,761,000. Weiss Asset Management LP owned approximately 0.08% of JetBlue Airways at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Smith Anglin Financial LLC raised its position in shares of JetBlue Airways by 14.6% during the third quarter. Smith Anglin Financial LLC now owns 13,839 shares of the transportation company's stock worth $91,000 after purchasing an additional 1,763 shares during the period. Sage Rhino Capital LLC raised its holdings in JetBlue Airways by 9.9% during the 2nd quarter. Sage Rhino Capital LLC now owns 19,834 shares of the transportation company's stock worth $121,000 after buying an additional 1,788 shares during the period. Jeppson Wealth Management LLC raised its holdings in JetBlue Airways by 15.7% during the 3rd quarter. Jeppson Wealth Management LLC now owns 13,650 shares of the transportation company's stock worth $90,000 after buying an additional 1,850 shares during the period. GAMMA Investing LLC lifted its stake in JetBlue Airways by 79.2% in the second quarter. GAMMA Investing LLC now owns 6,770 shares of the transportation company's stock valued at $41,000 after buying an additional 2,993 shares in the last quarter. Finally, Bogart Wealth LLC boosted its holdings in shares of JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company's stock valued at $28,000 after buying an additional 4,000 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of JetBlue Airways from $6.00 to $7.75 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Susquehanna boosted their price target on JetBlue Airways from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Evercore ISI increased their price objective on JetBlue Airways from $4.00 to $5.00 and gave the stock an "in-line" rating in a report on Thursday, October 3rd. Bank of America upgraded JetBlue Airways from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $3.00 to $6.00 in a research note on Monday, September 9th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and set a $5.50 price target on shares of JetBlue Airways in a research report on Friday, November 15th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $6.43.

JetBlue Airways Stock Performance

JBLU traded up $0.17 during trading on Friday, hitting $6.59. The stock had a trading volume of 18,264,568 shares, compared to its average volume of 17,898,148. 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 company has a 50 day moving average price of $6.56 and a 200-day moving average price of $5.94. JetBlue Airways Co. has a one year low of $4.49 and a one year high of $8.07. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -2.62 and a beta of 1.92.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS 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 business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the company posted ($0.39) earnings per share. JetBlue Airways's revenue was up .5% compared to the same quarter last year. As a group, research analysts predict that JetBlue Airways Co. will post -0.92 EPS for the current year.

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.