JetBlue Airways Co. (JBLU) Short Interest Up 23.9% in March

JetBlue Airways Co. (NASDAQ:JBLU) saw a significant growth in short interest during the month of March. As of March 29th, there was short interest totalling 16,444,554 shares, a growth of 23.9% from the March 15th total of 13,272,997 shares. Based on an average trading volume of 5,665,352 shares, the days-to-cover ratio is presently 2.9 days. Currently, 5.1% of the company’s shares are short sold.

In other news, EVP James G. Hnat sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $20.84, for a total transaction of $104,200.00. Following the completion of the transaction, the executive vice president now directly owns 9,555 shares in the company, valued at $199,126.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $20.87, for a total value of $41,740.00. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock valued at $365,420 over the last 90 days. 0.60% of the stock is owned by corporate insiders.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management increased its holdings in shares of JetBlue Airways by 26.8% during the fourth quarter. LSV Asset Management now owns 5,431,735 shares of the transportation company’s stock valued at $121,344,000 after acquiring an additional 1,146,890 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of JetBlue Airways by 47.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 5,293,229 shares of the transportation company’s stock valued at $118,251,000 after acquiring an additional 1,692,657 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of JetBlue Airways by 5.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,634,230 shares of the transportation company’s stock valued at $81,189,000 after acquiring an additional 200,237 shares in the last quarter. NWI Management LP increased its holdings in shares of JetBlue Airways by 1.5% during the fourth quarter. NWI Management LP now owns 2,790,000 shares of the transportation company’s stock valued at $62,329,000 after acquiring an additional 40,000 shares in the last quarter. Finally, Carillon Tower Advisers Inc. bought a new stake in shares of JetBlue Airways during the fourth quarter valued at approximately $61,469,000. Hedge funds and other institutional investors own 91.03% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Cowen restated a “market perform” rating and set a $22.00 price objective (down from $23.00) on shares of JetBlue Airways in a research report on Wednesday. ValuEngine downgraded JetBlue Airways from a “buy” rating to a “hold” rating in a research report on Monday, April 9th. Morgan Stanley lowered their price objective on JetBlue Airways from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday. Stifel Nicolaus reiterated a “hold” rating and issued a $23.00 target price (up from $20.00) on shares of JetBlue Airways in a report on Wednesday, January 10th. Finally, BidaskClub downgraded JetBlue Airways from a “hold” rating to a “sell” rating in a report on Thursday, March 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.56.

Shares of JBLU stock opened at $19.51 on Friday. The company has a market capitalization of $6,138.60, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 0.55 and a beta of 0.55. The company has a quick ratio of 0.48, a current ratio of 0.50 and a debt-to-equity ratio of 0.21. JetBlue Airways has a fifty-two week low of $18.05 and a fifty-two week high of $24.13.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Thursday, January 25th. The transportation company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. JetBlue Airways had a return on equity of 13.57% and a net margin of 16.35%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. research analysts anticipate that JetBlue Airways will post 1.91 earnings per share for the current year.

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About JetBlue Airways

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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