California State Teachers Retirement System Sells 50,296 Shares of JetBlue Airways Co. (JBLU)
California State Teachers Retirement System trimmed its stake in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 565,936 shares of the transportation company’s stock after selling 50,296 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of JetBlue Airways worth $10,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Investment Centers of America Inc. bought a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $205,000. Keybank National Association OH bought a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $210,000. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of JetBlue Airways in the 2nd quarter worth approximately $237,000. Public Employees Retirement Association of Colorado grew its position in shares of JetBlue Airways by 2.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 10,497 shares of the transportation company’s stock worth $240,000 after buying an additional 283 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of JetBlue Airways by 82.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 10,653 shares of the transportation company’s stock worth $232,000 after buying an additional 4,801 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.
A number of equities research analysts have recently weighed in on JBLU shares. Cowen reiterated a “hold” rating on shares of JetBlue Airways in a research report on Friday, September 1st. Standpoint Research assumed coverage on JetBlue Airways in a research report on Friday, September 1st. They issued an “accumulate” rating and a $26.00 price objective on the stock. ValuEngine cut JetBlue Airways from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Macquarie assumed coverage on JetBlue Airways in a research note on Monday, September 25th. They issued a “neutral” rating and a $21.00 target price for the company. Finally, Zacks Investment Research cut JetBlue Airways from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. JetBlue Airways has a consensus rating of “Hold” and an average target price of $24.56.
In other JetBlue Airways news, EVP George Martin J. St sold 2,500 shares of JetBlue Airways stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $21.59, for a total transaction of $53,975.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robin Hayes sold 2,000 shares of JetBlue Airways stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $18.56, for a total value of $37,120.00. Following the transaction, the chief executive officer now owns 402,362 shares of the company’s stock, valued at approximately $7,467,838.72. The disclosure for this sale can be found here. Insiders have sold 22,785 shares of company stock valued at $448,492 in the last quarter. 0.60% of the stock is owned by company insiders.
JetBlue Airways Co. (JBLU) opened at $22.44 on Tuesday. The company has a market capitalization of $7,200.00, a P/E ratio of 11.45 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56. JetBlue Airways Co. has a one year low of $18.05 and a one year high of $24.13.
JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, October 24th. The transportation company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. JetBlue Airways had a return on equity of 15.95% and a net margin of 9.38%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. analysts expect that JetBlue Airways Co. will post 1.76 earnings per share for the current year.
JetBlue Airways declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 13th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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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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