Victory Capital Management Inc. Decreases Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

Victory Capital Management Inc. decreased its position in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 63.2% during the 4th quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc raised its position in shares of JetBlue Airways by 6.4% during the 4th quarter. CIBC Asset Management Inc now owns 30,416 shares of the transportation company’s stock worth $239,000 after purchasing an additional 1,823 shares during the last quarter. Blue Trust Inc. raised its holdings in JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 2,538 shares during the last quarter. Bogart Wealth LLC raised its holdings in JetBlue Airways by 67.8% in the 4th quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 2,850 shares during the last quarter. GAMMA Investing LLC raised its holdings in JetBlue Airways by 85.8% in the 4th quarter. GAMMA Investing LLC now owns 8,353 shares of the transportation company’s stock valued at $66,000 after acquiring an additional 3,857 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in JetBlue Airways in the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Down 1.1 %

Shares of JetBlue Airways stock opened at $5.43 on Friday. The company has a fifty day moving average price of $6.62 and a 200 day moving average price of $6.65. 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 twelve month low of $4.50 and a twelve month high of $8.31. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -2.32 and a beta of 1.80.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business posted ($0.19) earnings per share. Equities research analysts forecast that JetBlue Airways Co. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on JBLU. Citigroup boosted their price target on JetBlue Airways from $6.85 to $7.60 and gave the company a “neutral” rating in a report on Wednesday, December 18th. UBS Group cut their price target on JetBlue Airways from $5.50 to $5.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $8.00 price target on shares of JetBlue Airways in a report on Wednesday, December 11th. Susquehanna cut their price target on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft cut shares of JetBlue Airways from a “buy” rating to a “hold” rating and lowered their price objective for the company from $9.00 to $7.00 in a research note on Tuesday, March 4th. Five analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.33.

Insider Buying and Selling

In other JetBlue Airways news, Director Nik Mittal purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average cost of $6.14 per share, with a total value of $614,000.00. Following the transaction, the director now owns 116,443 shares in the company, valued at approximately $714,960.02. This trade represents a 608.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ursula L. Hurley sold 15,000 shares of the company’s stock in a transaction dated 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 directly owns 41,833 shares of the company’s stock, valued at approximately $313,747.50. The trade was 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 owned by corporate insiders.

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.