Rainier Investment Management LLC Has $4.65 Million Position in JetBlue Airways Corporation (JBLU)

Rainier Investment Management LLC lowered its stake in shares of JetBlue Airways Corporation (NASDAQ:JBLU) by 49.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 203,810 shares of the transportation company’s stock after selling 199,900 shares during the period. Rainier Investment Management LLC owned about 0.06% of JetBlue Airways Corporation worth $4,653,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in JBLU. BlackRock Inc. boosted its position in shares of JetBlue Airways Corporation by 13,299.6% in the first quarter. BlackRock Inc. now owns 27,408,463 shares of the transportation company’s stock valued at $564,889,000 after buying an additional 27,203,916 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of JetBlue Airways Corporation by 32.2% in the first quarter. Dimensional Fund Advisors LP now owns 10,805,538 shares of the transportation company’s stock valued at $222,704,000 after buying an additional 2,632,973 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of JetBlue Airways Corporation by 7.8% in the first quarter. Vanguard Group Inc. now owns 28,930,739 shares of the transportation company’s stock valued at $596,262,000 after buying an additional 2,085,912 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of JetBlue Airways Corporation by 2,465.3% in the first quarter. Macquarie Group Ltd. now owns 1,775,200 shares of the transportation company’s stock valued at $36,587,000 after buying an additional 1,706,000 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of JetBlue Airways Corporation by 28.5% in the first quarter. AQR Capital Management LLC now owns 5,192,795 shares of the transportation company’s stock valued at $107,024,000 after buying an additional 1,151,028 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

Shares of JetBlue Airways Corporation (NASDAQ JBLU) opened at 21.6374 on Thursday. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 10.9835 and a beta of 0.53. JetBlue Airways Corporation has a 52 week low of $15.70 and a 52 week high of $24.13. The firm has a 50 day moving average price of $22.58 and a 200 day moving average price of $21.44.

JetBlue Airways Corporation (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.08. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. JetBlue Airways Corporation had a return on equity of 16.75% and a net margin of 9.78%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. Equities analysts forecast that JetBlue Airways Corporation will post $2.03 EPS for the current year.

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JBLU has been the topic of several analyst reports. Morgan Stanley lifted their target price on JetBlue Airways Corporation from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, July 17th. Bank of America Corporation lifted their target price on JetBlue Airways Corporation from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, June 30th. BidaskClub cut JetBlue Airways Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Vetr raised JetBlue Airways Corporation from a “buy” rating to a “strong-buy” rating and set a $25.22 target price on the stock in a research report on Wednesday, April 26th. Finally, Zacks Investment Research raised JetBlue Airways Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $25.69.

In other news, EVP James G. Hnat sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $21.98, for a total value of $131,880.00. Following the transaction, the executive vice president now directly owns 25,992 shares in the company, valued at approximately $571,304.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $22.87, for a total value of $45,740.00. Following the completion of the transaction, the chief executive officer now owns 408,362 shares in the company, valued at $9,339,238.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,740 shares of company stock worth $646,976. Company insiders own 0.60% of the company’s stock.

About JetBlue Airways Corporation

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.

Institutional Ownership by Quarter for JetBlue Airways Corporation (NASDAQ:JBLU)

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