JetBlue Airways Co. (JBLU) Sees Large Decrease in Short Interest
JetBlue Airways Co. (NASDAQ:JBLU) was the target of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 12,942,702 shares, a decrease of 15.1% from the January 31st total of 15,248,987 shares. Based on an average daily volume of 4,945,417 shares, the days-to-cover ratio is currently 2.6 days. Currently, 4.1% of the shares of the company are sold short.
In related news, EVP George Martin J. St sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $23.00, for a total value of $69,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James G. Hnat sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $20.84, for a total value of $104,200.00. Following the completion of the sale, the executive vice president now owns 9,555 shares in the company, valued at $199,126.20. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock worth $313,855 over the last quarter. Insiders own 0.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Focused Wealth Management Inc bought a new position in JetBlue Airways during the 4th quarter valued at $189,000. First Dallas Securities Inc. bought a new position in JetBlue Airways during the 4th quarter valued at $201,000. Cetera Advisors LLC bought a new position in JetBlue Airways during the 3rd quarter valued at $199,000. DekaBank Deutsche Girozentrale boosted its stake in JetBlue Airways by 82.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 10,653 shares of the transportation company’s stock valued at $232,000 after purchasing an additional 4,801 shares in the last quarter. Finally, Rational Advisors LLC bought a new position in JetBlue Airways during the 3rd quarter valued at $217,000. 93.01% of the stock is owned by hedge funds and other institutional investors.
JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. JetBlue Airways had a net margin of 16.35% and a return on equity of 13.57%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 earnings per share. equities research analysts predict that JetBlue Airways will post 1.92 earnings per share for the current year.
JetBlue Airways declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 13th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
JBLU has been the topic of several analyst reports. ValuEngine upgraded JetBlue Airways from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded JetBlue Airways from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Bank of America cut JetBlue Airways from a “buy” rating to an “underperform” rating and set a $22.00 target price on the stock. in a research report on Tuesday, January 9th. BidaskClub cut JetBlue Airways from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. Finally, Stephens initiated coverage on JetBlue Airways in a research report on Wednesday, November 29th. They issued an “equal weight” rating and a $22.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.32.
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JetBlue Airways Company Profile
JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.
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