Insider Buying: JetBlue Airways Co. (NASDAQ:JBLU) Director Purchases 100,000 Shares of Stock

JetBlue Airways Co. (NASDAQ:JBLU) Director Nik Mittal acquired 100,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $6.14 per share, with a total value of $614,000.00. Following the purchase, the director now directly owns 116,443 shares in the company, valued at approximately $714,960.02. This represents a 608.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

JetBlue Airways Trading Up 6.2 %

JBLU opened at $6.50 on Friday. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. JetBlue Airways Co. has a 12-month low of $4.49 and a 12-month high of $8.31. The company’s 50 day moving average is $7.20 and its 200 day moving average is $6.43.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.29%. During the same quarter in the previous year, the company earned ($0.19) EPS. As a group, equities analysts expect that JetBlue Airways Co. will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of JetBlue Airways

A number of hedge funds have recently added to or reduced their stakes in JBLU. CIBC Asset Management Inc lifted its position in shares of JetBlue Airways by 6.4% during the fourth quarter. CIBC Asset Management Inc now owns 30,416 shares of the transportation company’s stock valued at $239,000 after buying an additional 1,823 shares during the last quarter. Jeppson Wealth Management LLC boosted its position in JetBlue Airways by 15.7% in the 3rd quarter. Jeppson Wealth Management LLC now owns 13,650 shares of the transportation company’s stock worth $90,000 after purchasing an additional 1,850 shares in the last quarter. Blue Trust Inc. boosted its position in JetBlue Airways by 130.8% in the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after purchasing an additional 2,538 shares in the last quarter. Bogart Wealth LLC lifted its position in shares of JetBlue Airways by 67.8% during the 4th quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $55,000 after buying an additional 2,850 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of JetBlue Airways by 85.8% during the 4th quarter. GAMMA Investing LLC now owns 8,353 shares of the transportation company’s stock valued at $66,000 after buying an additional 3,857 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JBLU has been the subject of several analyst reports. Bank of America restated an “underperform” rating and issued a $6.50 target price on shares of JetBlue Airways in a research report on Friday, January 17th. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research report on Thursday, November 7th. UBS Group cut their price objective on JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. The Goldman Sachs Group reiterated a “sell” rating and issued a $5.50 target price on shares of JetBlue Airways in a research report on Friday, November 15th. Finally, Citigroup lifted their price target on shares of JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, JetBlue Airways currently has an average rating of “Hold” and an average target price of $6.51.

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.