Seven Eight Capital LP Sells 30,254 Shares of JetBlue Airways Co. (NASDAQ:JBLU)

Seven Eight Capital LP cut its position in JetBlue Airways Co. (NASDAQ:JBLU) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435,888 shares of the transportation company’s stock after selling 30,254 shares during the quarter. Seven Eight Capital LP owned about 0.13% of JetBlue Airways worth $2,655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JBLU. Sage Rhino Capital LLC grew its position in shares of JetBlue Airways by 9.9% during the 2nd quarter. Sage Rhino Capital LLC now owns 19,834 shares of the transportation company’s stock worth $121,000 after purchasing an additional 1,788 shares in the last quarter. PDS Planning Inc increased its stake in JetBlue Airways by 18.2% during the 1st quarter. PDS Planning Inc now owns 13,947 shares of the transportation company’s stock worth $103,000 after acquiring an additional 2,148 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in JetBlue Airways by 3.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 58,330 shares of the transportation company’s stock valued at $324,000 after acquiring an additional 2,178 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of JetBlue Airways by 169.8% during the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 2,377 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of JetBlue Airways by 12.5% during the 4th quarter. Private Advisor Group LLC now owns 24,470 shares of the transportation company’s stock worth $136,000 after purchasing an additional 2,717 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JBLU has been the topic of several recent analyst reports. Citigroup raised their target price on shares of JetBlue Airways from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $3.00 to $6.00 in a research note on Monday, September 9th. Finally, TD Cowen lifted their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.00.

JetBlue Airways Price Performance

Shares of NASDAQ JBLU opened at $5.75 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.54 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $1.96 billion, a PE ratio of -2.33 and a beta of 1.90. The firm has a fifty day simple moving average of $5.53 and a 200 day simple moving average of $5.99. JetBlue Airways Co. has a twelve month low of $3.42 and a twelve month high of $7.58.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.26. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.40 billion. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share. On average, sell-side analysts forecast that JetBlue Airways Co. will post -0.99 EPS for the current year.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.