Optimize Financial Inc Buys New Position in JetBlue Airways Co. (NASDAQ:JBLU)

Optimize Financial Inc purchased a new position in JetBlue Airways Co. (NASDAQ:JBLU) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 38,923 shares of the transportation company’s stock, valued at approximately $306,000.

A number of other large investors have also modified their holdings of JBLU. Sterling Capital Management LLC boosted its stake in JetBlue Airways by 833.0% in the 4th quarter. Sterling Capital Management LLC now owns 9,843 shares of the transportation company’s stock worth $77,000 after purchasing an additional 8,788 shares in the last quarter. Quinn Opportunity Partners LLC lifted its stake in shares of JetBlue Airways by 115.8% during the fourth quarter. Quinn Opportunity Partners LLC now owns 320,000 shares of the transportation company’s stock worth $2,515,000 after buying an additional 171,696 shares during the period. Capital Fund Management S.A. purchased a new stake in shares of JetBlue Airways during the fourth quarter valued at $3,706,000. DRW Securities LLC acquired a new position in shares of JetBlue Airways in the 4th quarter valued at $150,000. Finally, Raymond James Financial Inc. purchased a new position in JetBlue Airways in the 4th quarter worth $1,796,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Trading Up 0.5 %

Shares of JetBlue Airways stock opened at $3.71 on Friday. The firm has a 50-day simple moving average of $5.71 and a two-hundred day simple moving average of $6.50. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.18 and a current ratio of 1.10. JetBlue Airways Co. has a fifty-two week low of $3.47 and a fifty-two week high of $8.31. The company has a market cap of $1.31 billion, a P/E ratio of -1.59 and a beta of 1.69.

JetBlue Airways (NASDAQ:JBLU) last released 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 return on equity of 9.31% and a negative net margin of 8.57%. During the same period in the previous year, the business posted ($0.19) earnings per share. As a group, equities analysts predict that JetBlue Airways Co. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JBLU has been the topic of several research analyst reports. UBS Group dropped their price target on JetBlue Airways from $5.00 to $3.00 and set a “sell” rating on the stock in a research note on Monday, April 7th. Citigroup dropped their target price on JetBlue Airways from $7.15 to $4.25 and set a “neutral” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft downgraded shares of JetBlue Airways from a “buy” rating to a “hold” rating and cut their price target for the stock from $9.00 to $7.00 in a report on Tuesday, March 4th. Seaport Res Ptn cut shares of JetBlue Airways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Susquehanna dropped their price objective on shares of JetBlue Airways from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, JetBlue Airways has an average rating of “Hold” and a consensus price target of $5.17.

Insider Transactions at JetBlue Airways

In related news, CFO Ursula L. Hurley sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now directly owns 41,833 shares of the company’s stock, valued at approximately $313,747.50. This trade represents a 26.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nik Mittal acquired 100,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $6.14 per share, with a total value of $614,000.00. Following the completion of the purchase, the director now owns 116,443 shares in the company, valued at $714,960.02. This represents a 608.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.18% of the company’s stock.

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.