Neuberger Berman Group LLC decreased its stake in JetBlue Airways Co. (NASDAQ:JBLU) by 4.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,136 shares of the transportation company’s stock after selling 2,744 shares during the quarter. Neuberger Berman Group LLC’s holdings in JetBlue Airways were worth $1,226,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Alliancebernstein L.P. boosted its position in JetBlue Airways by 1,135.5% during the second quarter. Alliancebernstein L.P. now owns 2,927,591 shares of the transportation company’s stock worth $66,837,000 after purchasing an additional 2,690,638 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in JetBlue Airways by 68.9% during the third quarter. Frontier Capital Management Co. LLC now owns 3,600,572 shares of the transportation company’s stock worth $66,719,000 after purchasing an additional 1,468,416 shares in the last quarter. Bank of Nova Scotia purchased a new position in JetBlue Airways during the second quarter worth approximately $21,689,000. Disciplined Growth Investors Inc. MN boosted its position in JetBlue Airways by 22.7% during the third quarter. Disciplined Growth Investors Inc. MN now owns 4,860,896 shares of the transportation company’s stock worth $90,072,000 after purchasing an additional 899,775 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in JetBlue Airways by 207.0% during the second quarter. Parametric Portfolio Associates LLC now owns 1,311,934 shares of the transportation company’s stock worth $29,951,000 after purchasing an additional 884,560 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.
In other JetBlue Airways news, EVP George Martin J. St sold 2,500 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $21.59, for a total transaction of $53,975.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joel Clinton Peterson sold 5,120 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $18.96, for a total value of $97,075.20. Following the completion of the sale, the director now directly owns 539,702 shares of the company’s stock, valued at approximately $10,232,749.92. The disclosure for this sale can be found here. Insiders have sold 14,665 shares of company stock valued at $298,448 in the last three months. Insiders own 0.60% of the company’s stock.
JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 24th. The transportation company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. JetBlue Airways had a return on equity of 15.95% and a net margin of 9.38%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. equities research analysts expect that JetBlue Airways Co. will post 1.76 EPS for the current fiscal year.
JetBlue Airways announced that its board has approved a stock repurchase plan on Wednesday, December 13th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
A number of brokerages have issued reports on JBLU. ValuEngine upgraded JetBlue Airways from a “buy” rating to a “strong-buy” rating in a research report on Sunday. BidaskClub upgraded JetBlue Airways from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Cowen reiterated a “market perform” rating and set a $24.00 price target (up previously from $22.00) on shares of JetBlue Airways in a research report on Tuesday, December 12th. Stephens began coverage on JetBlue Airways in a research report on Wednesday, November 29th. They set an “equal weight” rating and a $22.00 price target on the stock. Finally, Zacks Investment Research upgraded JetBlue Airways from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $24.56.
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JetBlue Airways Company Profile
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.
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