Investors Buy High 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 7,674 put options on the stock. This represents an increase of 768% compared to the typical volume of 884 put options.

In related news, CEO Robin Hayes sold 2,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $21.38, for a total transaction of $42,760.00. Following the transaction, the chief executive officer now directly owns 398,535 shares of the company’s stock, valued at approximately $8,520,678.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joel Clinton Peterson sold 5,120 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $18.96, for a total value of $97,075.20. Following the transaction, the director now directly owns 539,702 shares in the company, valued at $10,232,749.92. The disclosure for this sale can be found here. Insiders sold a total of 16,665 shares of company stock valued at $343,388 over the last quarter. Company insiders own 0.60% of the company’s stock.

Hedge funds have recently modified their holdings of the business. IFP Advisors Inc boosted its position in JetBlue Airways by 38.1% during the second quarter. IFP Advisors Inc now owns 7,672 shares of the transportation company’s stock worth $175,000 after purchasing an additional 2,117 shares in the last quarter. Investment Centers of America Inc. purchased a new position in JetBlue Airways during the second quarter worth approximately $205,000. Keybank National Association OH purchased a new position in JetBlue Airways during the second quarter worth approximately $210,000. Lincoln National Corp purchased a new position in JetBlue Airways during the second quarter worth approximately $210,000. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new position in JetBlue Airways during the second quarter worth approximately $237,000. Institutional investors own 89.81% of the company’s stock.

Shares of JetBlue Airways (JBLU) traded up $0.59 on Friday, hitting $22.93. The stock had a trading volume of 4,361,571 shares, compared to its average volume of 4,094,137. JetBlue Airways has a 1 year low of $18.05 and a 1 year high of $24.13. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $7,163.25, a P/E ratio of 11.82 and a beta of 0.68.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, October 24th. The transportation company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. JetBlue Airways had a return on equity of 15.95% and a net margin of 9.38%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 earnings per share. equities research analysts expect that JetBlue Airways will post 1.77 EPS for the current fiscal year.

JetBlue Airways declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 13th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Several brokerages recently issued reports on JBLU. BidaskClub raised JetBlue Airways from a “sell” rating to a “hold” rating in a research report on Saturday. ValuEngine raised JetBlue Airways from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Cowen reissued a “market perform” rating and issued a $24.00 price objective (up from $22.00) on shares of JetBlue Airways in a report on Tuesday, December 12th. Stifel Nicolaus reissued a “hold” rating and issued a $23.00 price objective (up from $20.00) on shares of JetBlue Airways in a report on Wednesday. Finally, Bank of America lowered JetBlue Airways from a “buy” rating to an “underperform” rating and set a $22.00 price objective on the stock. in a report on Tuesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.09.

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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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