268,376 Shares in JetBlue Airways Co. (NASDAQ:JBLU) Acquired by Weiss Asset Management LP

Weiss Asset Management LP bought a new position in shares of JetBlue Airways Co. (NASDAQ:JBLU) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 268,376 shares of the transportation company’s stock, valued at approximately $1,761,000.

Several other hedge funds have also added to or reduced their stakes in the business. Stifel Financial Corp boosted its position in JetBlue Airways by 21.4% during the 3rd quarter. Stifel Financial Corp now owns 525,024 shares of the transportation company’s stock worth $3,444,000 after buying an additional 92,468 shares during the period. Quadrature Capital Ltd bought a new position in JetBlue Airways during the 3rd quarter worth approximately $1,440,000. RBF Capital LLC bought a new position in JetBlue Airways during the 3rd quarter worth approximately $4,264,000. Redwood Investment Management LLC raised its holdings in JetBlue Airways by 7.5% during the 3rd quarter. Redwood Investment Management LLC now owns 532,915 shares of the transportation company’s stock worth $3,421,000 after purchasing an additional 37,147 shares during the last quarter. Finally, Point72 DIFC Ltd raised its holdings in JetBlue Airways by 524.8% during the 3rd quarter. Point72 DIFC Ltd now owns 49,639 shares of the transportation company’s stock worth $326,000 after purchasing an additional 41,694 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JBLU has been the subject of several analyst reports. Citigroup raised their price target on shares of JetBlue Airways from $6.00 to $7.75 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Susquehanna raised their price target on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI raised their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Finally, TD Cowen lifted their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.43.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $6.59 on Friday. The firm has a market capitalization of $2.29 billion, a P/E ratio of -2.62 and a beta of 1.92. The company has a fifty day moving average of $6.56 and a 200-day moving average of $5.94. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98. JetBlue Airways Co. has a twelve month low of $4.49 and a twelve month high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. JetBlue Airways’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.39) EPS. As a group, sell-side analysts anticipate that JetBlue Airways Co. will post -0.92 EPS for the current year.

About JetBlue Airways

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.