JetBlue Airways Sees Unusually Large Options Volume (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) saw some unusual options trading activity on Wednesday. Stock traders bought 69,120 call options on the company. This represents an increase of 13,864% compared to the typical volume of 495 call options.

JBLU stock opened at $19.32 on Thursday. The company has a market capitalization of $5.55 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.59 and a beta of 0.78. JetBlue Airways has a one year low of $15.19 and a one year high of $19.93. The company’s 50 day moving average price is $18.95 and its two-hundred day moving average price is $18.26. 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 posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.51 by $0.08. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.09 billion. JetBlue Airways had a net margin of 7.19% and a return on equity of 12.03%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, research analysts predict that JetBlue Airways will post 1.93 EPS for the current year.

A number of equities research analysts recently weighed in on JBLU shares. BidaskClub raised shares of JetBlue Airways from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley lowered their target price on shares of JetBlue Airways from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. Buckingham Research raised shares of JetBlue Airways from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.00 to $22.00 in a research note on Monday, October 7th. Stifel Nicolaus raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and raised their target price for the company from $22.00 to $24.00 in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. raised shares of JetBlue Airways from a “neutral” rating to an “overweight” rating and raised their target price for the company from $23.00 to $24.00 in a research note on Monday, October 28th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. JetBlue Airways has a consensus rating of “Hold” and a consensus price target of $21.36.

In related news, General Counsel Brandon Nelson sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $19.47, for a total value of $38,940.00. Following the sale, the general counsel now directly owns 229 shares of the company’s stock, valued at $4,458.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robin Hayes sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $19.62, for a total transaction of $49,050.00. The disclosure for this sale can be found here. Insiders sold 12,810 shares of company stock valued at $235,607 over the last 90 days. 0.79% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of JBLU. Millennium Management LLC increased its stake in shares of JetBlue Airways by 2,601.4% in the third quarter. Millennium Management LLC now owns 4,482,298 shares of the transportation company’s stock worth $75,078,000 after buying an additional 4,316,375 shares during the period. Squarepoint Ops LLC increased its stake in shares of JetBlue Airways by 56.7% in the third quarter. Squarepoint Ops LLC now owns 50,600 shares of the transportation company’s stock worth $848,000 after buying an additional 18,308 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of JetBlue Airways by 36.7% in the third quarter. Disciplined Growth Investors Inc. MN now owns 6,290,507 shares of the transportation company’s stock worth $105,366,000 after buying an additional 1,689,527 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of JetBlue Airways by 24.7% in the third quarter. Parametric Portfolio Associates LLC now owns 1,217,927 shares of the transportation company’s stock worth $20,400,000 after buying an additional 241,519 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of JetBlue Airways by 81.7% in the third quarter. Stifel Financial Corp now owns 49,439 shares of the transportation company’s stock worth $831,000 after buying an additional 22,228 shares during the period. 96.28% of the stock is currently owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

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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