JetBlue Airways Co. (JBLU) Sees Significant Decline in Short Interest

JetBlue Airways Co. (NASDAQ:JBLU) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 18,986,566 shares, a decrease of 15.0% from the May 31st total of 22,337,665 shares. Approximately 6.0% of the company’s stock are sold short. Based on an average daily volume of 4,759,162 shares, the short-interest ratio is currently 4.0 days.

A number of equities research analysts have commented on JBLU shares. BidaskClub downgraded JetBlue Airways from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. Zacks Investment Research downgraded JetBlue Airways from a “hold” rating to a “strong sell” rating in a research note on Monday, May 28th. ValuEngine raised JetBlue Airways from a “hold” rating to a “buy” rating in a research note on Tuesday, May 1st. Buckingham Research cut their price target on JetBlue Airways from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, June 13th. Finally, JPMorgan Chase & Co. downgraded JetBlue Airways from an “overweight” rating to a “neutral” rating and set a $22.00 price target for the company. in a research note on Monday, April 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. JetBlue Airways currently has a consensus rating of “Hold” and an average target price of $23.50.

In related news, EVP James G. Hnat sold 16,805 shares of the stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $18.62, for a total transaction of $312,909.10. Following the completion of the sale, the executive vice president now directly owns 9,437 shares of the company’s stock, valued at $175,716.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robin Hayes sold 2,000 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $20.32, for a total value of $40,640.00. Following the sale, the chief executive officer now directly owns 426,069 shares of the company’s stock, valued at $8,657,722.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,805 shares of company stock worth $488,689. Insiders own 0.63% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of JetBlue Airways in the 1st quarter valued at approximately $503,000. Suntrust Banks Inc. acquired a new position in shares of JetBlue Airways in the 1st quarter valued at approximately $894,000. Principal Financial Group Inc. raised its position in shares of JetBlue Airways by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,396,759 shares of the transportation company’s stock valued at $28,382,000 after purchasing an additional 39,895 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of JetBlue Airways by 1,784.6% in the 1st quarter. Summit Trail Advisors LLC now owns 340,975 shares of the transportation company’s stock valued at $341,000 after purchasing an additional 322,882 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of JetBlue Airways by 10.0% in the 1st quarter. Legal & General Group Plc now owns 314,183 shares of the transportation company’s stock valued at $6,385,000 after purchasing an additional 28,551 shares in the last quarter. 90.71% of the stock is currently owned by hedge funds and other institutional investors.

JBLU opened at $18.92 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.61 and a beta of 0.59. JetBlue Airways has a 12 month low of $18.05 and a 12 month high of $24.13.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, April 24th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.05. JetBlue Airways had a return on equity of 13.10% and a net margin of 16.05%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. sell-side analysts forecast that JetBlue Airways will post 1.71 EPS for the current fiscal year.

About JetBlue Airways

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2017, the company operated a fleet of 53 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 101 destinations in 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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