Citigroup Inc. Reduces Stake in JetBlue Airways Co. (NASDAQ:JBLU)

Citigroup Inc. reduced its stake in JetBlue Airways Co. (NASDAQ:JBLU – Get Rating) by 30.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 347,319 shares of the transportation company’s stock after selling 152,192 shares during the quarter. Citigroup Inc.’s holdings in JetBlue Airways were worth $2,251,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of JBLU. Raymond James & Associates raised its holdings in JetBlue Airways by 162.3% in the 1st quarter. Raymond James & Associates now owns 174,219 shares of the transportation company’s stock worth $2,605,000 after purchasing an additional 107,791 shares during the period. American Century Companies Inc. raised its holdings in JetBlue Airways by 21.7% in the 1st quarter. American Century Companies Inc. now owns 44,471 shares of the transportation company’s stock worth $665,000 after purchasing an additional 7,941 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in JetBlue Airways by 4.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 57,508 shares of the transportation company’s stock valued at $860,000 after acquiring an additional 2,320 shares during the period. Natixis Advisors L.P. raised its holdings in JetBlue Airways by 10.2% during the first quarter. Natixis Advisors L.P. now owns 20,552 shares of the transportation company’s stock valued at $307,000 after acquiring an additional 1,902 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in JetBlue Airways during the first quarter valued at about $1,117,000. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on JBLU shares. JPMorgan Chase & Co. decreased their price target on JetBlue Airways from $10.00 to $8.00 in a report on Monday, May 8th. Wolfe Research lifted their target price on JetBlue Airways from $6.00 to $7.00 in a report on Friday, January 27th. Finally, StockNews.com assumed coverage on JetBlue Airways in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.65.

JetBlue Airways Trading Down 1.7 %

JBLU opened at $6.76 on Thursday. JetBlue Airways Co. has a 12 month low of $6.18 and a 12 month high of $10.97. The stock has a 50-day moving average of $6.95 and a 200 day moving average of $7.51. The firm has a market cap of $2.22 billion, a P/E ratio of -7.56 and a beta of 1.58. The company has a current ratio of 0.52, a quick ratio of 0.50 and a debt-to-equity ratio of 0.98.

JetBlue Airways (NASDAQ:JBLU – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The transportation company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.04. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.32 billion. JetBlue Airways had a negative return on equity of 3.54% and a negative net margin of 3.07%. JetBlue Airways’s quarterly revenue was up 34.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.80) earnings per share. As a group, research analysts forecast that JetBlue Airways Co. will post 0.67 EPS for the current year.

About JetBlue Airways

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JetBlue Airways Corp. provides air transportation services. It carries more than 30 million customers a year to 86 cities in the U.S., Caribbean, and Latin America with an average of 850 daily flights. The firm offers flights and tickets to more than 82 destinations, with accommodations such as free TV, free snacks, and the most legroom.