Maryland State Retirement & Pension System Sells 11,171 Shares of JetBlue Airways Corporation (NASDAQ:JBLU)

Maryland State Retirement & Pension System trimmed its stake in JetBlue Airways Corporation (NASDAQ:JBLU) by 11.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,554 shares of the transportation company’s stock after selling 11,171 shares during the quarter. Maryland State Retirement & Pension System’s holdings in JetBlue Airways were worth $432,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bridgeway Capital Management LLC grew its stake in JetBlue Airways by 2.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 2,512,920 shares of the transportation company’s stock valued at $19,752,000 after purchasing an additional 66,183 shares in the last quarter. Kettle Hill Capital Management LLC bought a new position in JetBlue Airways in the fourth quarter valued at approximately $6,621,000. Principal Financial Group Inc. grew its stake in JetBlue Airways by 4.5% in the first quarter. Principal Financial Group Inc. now owns 1,512,443 shares of the transportation company’s stock valued at $7,290,000 after purchasing an additional 64,847 shares in the last quarter. Prentice Capital Management LP grew its stake in JetBlue Airways by 1,329.0% in the fourth quarter. Prentice Capital Management LP now owns 1,433,316 shares of the transportation company’s stock valued at $11,266,000 after purchasing an additional 1,333,016 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in JetBlue Airways in the fourth quarter valued at approximately $2,130,000. 83.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on JBLU. Susquehanna restated a “neutral” rating on shares of JetBlue Airways in a research note on Tuesday, July 29th. Barclays restated an “underweight” rating on shares of JetBlue Airways in a research note on Tuesday, July 29th. Citigroup set a $5.00 price target on JetBlue Airways and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Raymond James Financial downgraded JetBlue Airways from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded JetBlue Airways to a “sell” rating in a research note on Thursday, May 15th. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.16.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $5.22 on Friday. The stock has a market cap of $1.90 billion, a P/E ratio of -4.75 and a beta of 1.80. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 3.21. The stock has a 50 day simple moving average of $4.45 and a 200 day simple moving average of $4.98. JetBlue Airways Corporation has a 1-year low of $3.34 and a 1-year high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.15. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.26 billion. JetBlue Airways had a negative return on equity of 15.59% and a negative net margin of 4.22%. Research analysts anticipate that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

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.