B. Riley Wealth Advisors Inc. Trims Stock Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

B. Riley Wealth Advisors Inc. lessened its position in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 9.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,514 shares of the transportation company’s stock after selling 5,817 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in JetBlue Airways were worth $363,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of JBLU. Nisa Investment Advisors LLC boosted its holdings in shares of JetBlue Airways by 9.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 52,628 shares of the transportation company’s stock valued at $321,000 after acquiring an additional 4,355 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of JetBlue Airways during the 2nd quarter valued at about $63,000. Louisiana State Employees Retirement System lifted its holdings in shares of JetBlue Airways by 3.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 171,100 shares of the transportation company’s stock valued at $1,042,000 after buying an additional 6,000 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of JetBlue Airways in the second quarter worth about $130,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in JetBlue Airways by 60.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,193 shares of the transportation company’s stock worth $227,000 after acquiring an additional 14,021 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Stock Performance

NASDAQ JBLU opened at $7.44 on Friday. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 1.18. The stock’s 50 day simple moving average is $6.62 and its 200-day simple moving average is $6.05. The company has a market cap of $2.58 billion, a PE ratio of -2.95 and a beta of 1.92. JetBlue Airways Co. has a 1-year low of $4.49 and a 1-year high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.10. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.39) EPS. As a group, equities research analysts anticipate that JetBlue Airways Co. will post -0.89 EPS for the current fiscal year.

Analysts Set New Price Targets

JBLU has been the topic of a number of analyst reports. TD Cowen raised their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Evercore ISI lifted their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. StockNews.com raised shares of JetBlue Airways to a “sell” rating in a research note on Thursday, November 7th. UBS Group restated a “sell” rating and issued a $5.00 price target on shares of JetBlue Airways in a research note on Tuesday, November 26th. Finally, Susquehanna increased their price target on JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.55.

JetBlue Airways Company Profile

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.