Dimensional Fund Advisors LP Boosts Stake in JetBlue Airways Co. (NASDAQ:JBLU)

Posted by Defense World Staff on Sep 8th, 2023

Dimensional Fund Advisors LP lifted its holdings in shares of JetBlue Airways Co. (NASDAQ:JBLU – Free Report) by 54.7% in the first quarter, HoldingsChannel.com reports. The firm owned 14,927,083 shares of the transportation company’s stock after acquiring an additional 5,276,381 shares during the quarter. Dimensional Fund Advisors LP’s holdings in JetBlue Airways were worth $108,667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in JetBlue Airways by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 30,459,166 shares of the transportation company’s stock worth $201,945,000 after buying an additional 804,077 shares in the last quarter. U S Global Investors Inc. raised its stake in JetBlue Airways by 19.9% during the first quarter. U S Global Investors Inc. now owns 9,685,274 shares of the transportation company’s stock worth $70,509,000 after purchasing an additional 1,609,740 shares during the period. Donald Smith & CO. Inc. boosted its holdings in shares of JetBlue Airways by 18.7% in the 4th quarter. Donald Smith & CO. Inc. now owns 9,608,384 shares of the transportation company’s stock valued at $62,262,000 after purchasing an additional 1,513,137 shares during the last quarter. State Street Corp grew its stake in shares of JetBlue Airways by 5.7% during the 1st quarter. State Street Corp now owns 9,284,127 shares of the transportation company’s stock valued at $138,798,000 after buying an additional 499,600 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of JetBlue Airways by 13.9% in the 4th quarter. Renaissance Technologies LLC now owns 6,759,416 shares of the transportation company’s stock worth $43,801,000 after buying an additional 827,433 shares during the period. 74.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at JetBlue Airways

In related news, insider Gerald Alfred Spencer sold 11,879 shares of JetBlue Airways stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $6.35, for a total transaction of $75,431.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.52% of the company’s stock.

JetBlue Airways Stock Down 3.6 %

JBLU stock opened at $5.39 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 0.98. The firm’s 50-day simple moving average is $7.24 and its 200 day simple moving average is $7.31. The stock has a market cap of $1.80 billion, a PE ratio of 67.38 and a beta of 1.68. JetBlue Airways Co. has a fifty-two week low of $5.33 and a fifty-two week high of $9.45.

JetBlue Airways (NASDAQ:JBLU – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The transportation company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. JetBlue Airways had a net margin of 0.27% and a return on equity of 5.20%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business earned ($0.47) earnings per share. JetBlue Airways’s revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts predict that JetBlue Airways Co. will post 0.13 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Susquehanna reduced their price objective on JetBlue Airways from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 8th. Bank of America lifted their target price on JetBlue Airways from $9.00 to $10.00 in a research report on Monday, June 26th. JPMorgan Chase & Co. decreased their price objective on shares of JetBlue Airways from $8.00 to $6.00 and set an “underweight” rating for the company in a report on Wednesday, August 2nd. StockNews.com initiated coverage on JetBlue Airways in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Finally, Evercore ISI lowered shares of JetBlue Airways from an “in-line” rating to an “underperform” rating and set a $8.00 target price for the company. in a research note on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.17.

Read Our Latest Analysis on JBLU

JetBlue Airways Profile

(Free Report)

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2022, the company operated a fleet of 63 Airbus A321 aircraft, 14 Airbus A220 aircraft, 23 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 100 destinations in the 32 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.