Stock Traders Buy Large Volume of JetBlue Airways Put Options (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) was the target of unusually large options trading on Tuesday. Stock investors acquired 2,307 put options on the stock. This is an increase of approximately 935% compared to the typical volume of 223 put options.

Several equities analysts recently weighed in on JBLU shares. Buckingham Research upgraded shares of JetBlue Airways from a “neutral” rating to a “buy” rating and increased their price target for the stock from $18.00 to $22.00 in a report on Monday, October 7th. Zacks Investment Research upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Monday, September 2nd. Stifel Nicolaus raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and upped their price objective for the company from $22.00 to $24.00 in a report on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of JetBlue Airways from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $23.00 to $24.00 in a research note on Monday, October 28th. Finally, TheStreet raised shares of JetBlue Airways from a “c+” rating to a “b-” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. JetBlue Airways has an average rating of “Hold” and a consensus price target of $21.36.

JBLU opened at $18.80 on Wednesday. The company has a fifty day moving average of $18.90 and a two-hundred day moving average of $18.25. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.59 and a beta of 0.78. JetBlue Airways has a fifty-two week low of $15.19 and a fifty-two week high of $19.93. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.50 and a current ratio of 0.53.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.08. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.09 billion. JetBlue Airways had a return on equity of 12.03% and a net margin of 7.19%. JetBlue Airways’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 EPS. On average, equities research analysts forecast that JetBlue Airways will post 1.93 earnings per share for the current year.

In other JetBlue Airways news, General Counsel Brandon Nelson sold 2,000 shares of JetBlue Airways stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $19.47, for a total transaction of $38,940.00. Following the completion of the sale, the general counsel now owns 229 shares of the company’s stock, valued at approximately $4,458.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robin Hayes sold 2,500 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $16.62, for a total value of $41,550.00. Following the completion of the transaction, the chief executive officer now directly owns 468,393 shares in the company, valued at $7,784,691.66. The disclosure for this sale can be found here. In the last three months, insiders sold 12,810 shares of company stock valued at $235,607. Corporate insiders own 0.79% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Executive Wealth Management LLC acquired a new stake in JetBlue Airways in the 2nd quarter valued at $37,000. Private Capital Group LLC grew its position in shares of JetBlue Airways by 130.2% in the second quarter. Private Capital Group LLC now owns 2,044 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 1,156 shares during the period. FinTrust Capital Advisors LLC grew its position in shares of JetBlue Airways by 81.4% in the second quarter. FinTrust Capital Advisors LLC now owns 2,422 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 1,087 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of JetBlue Airways during the second quarter worth about $59,000. Finally, Usca Ria LLC purchased a new stake in shares of JetBlue Airways during the third quarter worth about $82,000. 96.28% of the stock is currently owned by institutional investors.

About JetBlue Airways

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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