Proficio Capital Partners LLC Purchases New Position in JetBlue Airways Co. (NASDAQ:JBLU)

Proficio Capital Partners LLC bought a new stake in JetBlue Airways Co. (NASDAQ:JBLU) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,381 shares of the transportation company’s stock, valued at approximately $89,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in JetBlue Airways by 18.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,725,671 shares of the transportation company’s stock worth $52,864,000 after purchasing an additional 1,063,929 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in JetBlue Airways by 88.2% during 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 last quarter. SG Americas Securities LLC grew its position in JetBlue Airways by 5,648.9% in 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 purchasing an additional 1,444,491 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of JetBlue Airways by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,447,596 shares of the transportation company’s stock valued at $11,378,000 after acquiring an additional 40,452 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of JetBlue Airways by 8.3% during the 4th quarter. Empowered Funds LLC now owns 1,396,530 shares of the transportation company’s stock worth $10,977,000 after purchasing an additional 107,293 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded JetBlue Airways from a “buy” rating to a “hold” rating and lowered their price target for the stock from $9.00 to $7.00 in a research report on Tuesday, March 4th. Susquehanna cut their price objective on shares of JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Seaport Res Ptn lowered JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Morgan Stanley restated an “equal weight” rating and issued a $8.00 price target on shares of JetBlue Airways in a research note on Wednesday, December 11th. Finally, Bank of America reissued an “underperform” rating and set a $6.50 price target on shares of JetBlue Airways in a research report on Friday, January 17th. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, JetBlue Airways presently has a consensus rating of “Hold” and a consensus price target of $6.33.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $5.21 on Friday. 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 12 month low of $4.50 and a 12 month high of $8.31. The business’s 50-day moving average price is $6.40 and its 200-day moving average price is $6.64. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -2.23 and a beta of 1.80.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data 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 last year, the company earned ($0.19) EPS. Equities research analysts forecast that JetBlue Airways Co. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other JetBlue Airways news, CFO Ursula L. Hurley sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nik Mittal bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $6.14 per share, with a total value of $614,000.00. Following the completion of the transaction, the director now owns 116,443 shares of the company’s stock, valued at $714,960.02. This represents a 608.16 % increase in their ownership of the stock. The disclosure for this purchase 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.