Cannon Global Investment Management LLC Invests $522,000 in JetBlue Airways Corporation $JBLU

Cannon Global Investment Management LLC bought a new position in shares of JetBlue Airways Corporation (NASDAQ:JBLU) during the first quarter, Holdings Channel reports. The fund bought 118,000 shares of the transportation company’s stock, valued at approximately $522,000.

A number of other institutional investors have also recently made changes to their positions in JBLU. Goldman Sachs Group Inc. boosted its stake in shares of JetBlue Airways by 85.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company’s stock valued at $55,166,000 after purchasing an additional 5,591,470 shares during the last quarter. Par Capital Management Inc. grew its position in JetBlue Airways by 105.3% in the 2nd quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock valued at $23,212,000 after purchasing an additional 2,814,870 shares during the period. U S Global Investors Inc. raised its holdings in shares of JetBlue Airways by 4.9% in the 4th quarter. U S Global Investors Inc. now owns 4,728,754 shares of the transportation company’s stock worth $21,516,000 after acquiring an additional 219,622 shares during the last quarter. Invesco Ltd. raised its stake in shares of JetBlue Airways by 10.1% in the second quarter. Invesco Ltd. now owns 4,513,312 shares of the transportation company’s stock worth $19,091,000 after purchasing an additional 412,921 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in JetBlue Airways by 1,157.9% during the fourth quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock worth $15,270,000 after buying an additional 3,089,226 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

JetBlue Airways Stock Performance

Shares of JBLU opened at $6.00 on Friday. JetBlue Airways Corporation has a 52 week low of $3.87 and a 52 week high of $6.50. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 4.25. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -3.09 and a beta of 1.73. The business has a 50-day simple moving average of $5.13 and a two-hundred day simple moving average of $5.05.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.15). The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.59) earnings per share. On average, analysts expect that JetBlue Airways Corporation will post -2.67 EPS for the current year.

Insider Activity at JetBlue Airways

In other news, Director Thomas Winkelmann sold 35,473 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $4.70, for a total transaction of $166,723.10. Following the transaction, the director owned 13,379 shares in the company, valued at approximately $62,881.30. This trade represents a 72.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vivek Sharma sold 32,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total transaction of $173,120.00. Following the transaction, the director owned 35,479 shares in the company, valued at approximately $191,941.39. This represents a 47.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on JBLU shares. The Goldman Sachs Group reiterated a “sell” rating and issued a $3.50 price objective on shares of JetBlue Airways in a research note on Monday, June 1st. Susquehanna upped their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Tuesday, April 21st. BMO Capital Markets started coverage on JetBlue Airways in a research report on Tuesday, March 24th. They set a “market perform” rating and a $4.50 price target on the stock. Finally, Seaport Research Partners raised JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $5.23.

JetBlue Airways Profile

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.