There has been some selling insider activity on JetBlue Airways Corporation (NASDAQ:JBLU) recently. George Martin J. St, EVP Commercial sold $57,500 worth of shares at an average price of $23.00 on June 8th. The EVP Commercial now owns $654,511 of the stock per an SEC filing yesterday. EVP James G. Hnat disclosed the sale of 15,000 shares of JBLU stock. The shares were purchased at an average price of $21.67. The EVP now owns $736,607 of the stock according to the SEC filing.
Joel Clinton Peterson, Director reported the sale of 7,000 shares. The shares were sold on May 5th for an average price of $21.37. Peterson now owns $12,189,918 of the stock per the Form 4 SEC filing.
JetBlue Airways Corporation, launched on August 24, 1998, is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. The Business’s segments include Domestic, and Caribbean & Latin America. The Company operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190. It also provides premium transcontinental product called Mint. As of December 31, 2016, Mint included 16 fully lie-flat seats, four of which were in suites with a privacy door. The Company also provides Fly-Fi in-flight Internet service across its Airbus fleet. The Company provides its customers a choice to purchase tickets from three branded fares, which include Blue, Blue Plus and Blue Flex. Each of these fare include different offerings, such as free checked bags, reduced change fees and additional TrueBlue points..
Here are a few additional firms who have increased or decreased their stake in (JBLU). As of the end of the quarter Cpcm, LLC had sold 10,000 shares trimming its holdings by 11.0%. The value of the total investment in JetBlue Airways Corporation went from $2,061,000 to $1,396,000 decreasing 32.3% quarter to quarter. As of quarter end Marianas Fund Management LLC had disposed of a total of 37,700 shares trimming its position 10.7%. The value of the investment in JBLU decreased from $7,905,000 to $6,490,000 a change of $1,415,000 for the reporting period.
Proficio Capital Partners LLC added to its ownership by buying 783 shares an increase of 113.8%. Proficio Capital Partners LLC claims 1,471 shares worth $33,000. The total value of its holdings increased 120.0%. Fny Partners Fund Lp bolstered its investment by buying 1,500 shares an increase of 150.0% in the quarter. Fny Partners Fund Lp now holds 2,500 shares valued at $51,000. The value of the position overall is up by 131.8%.
Citigroup initiated coverage setting a rating of “Neutral”. July 27 investment analysts at JP Morgan left the stock rating at “Neutral” but lowered the price expectation from $27.00 to $21.00.
On April 27 the stock rating was upgraded from “” to “Neutral” with a current price target of $19.00 in a report from Cowen & Company. On April 26 Credit Suisse held the company rating at “Neutral” and lowered the price expectation to $19.00 from $21.00.
Equity analyst Barclays lowered the price target and upgraded the stock on April 15 changing the price objective from $29.00 to $26.00 and setting the rating at “Overweight” which had previously been “Equal-weight”. On April 15 the company was upgraded to “Overweight” from “Equal-weight” and a price target of $26.00 was set by Barclays.
In the market the company is trading down from yesterday’s close of $22.77. The stock is trading at $22.73 a tad higher than the 50 day moving average of $22.01 and which is just a bit higher than the 200 day moving average of $21.12. The 50 day moving average went up by +3.422% whereas the 200 day average was up by +7.808%.
The most current P/E ratio is 12.187 and market cap is 7.60B. In the latest earnings report the EPS was $1.87 and is estimated to be $1.88 for the current year with 333,673,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.61 and the next full year EPS is projected to be $2.08.
Investors are feeling more bullish on JetBlue Airways Corporation of late considering the fall in short interest. The stock experienced a fall in short interest between May 15, 2017 and April 28, 2017 of -26.81%. Short interest decreased 5,078,326 over that timeframe. Days to cover decreased from 3.0 to 2.7 and the percentage of shorted shares was 0.04% on April 28.