Sumitomo Mitsui DS Asset Management Company Ltd Takes $7.48 Million Position in JetBlue Airways Co. (NASDAQ:JBLU)

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in JetBlue Airways Co. (NASDAQ:JBLU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,346,900 shares of the transportation company’s stock, valued at approximately $7,475,000. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.40% of JetBlue Airways at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in JBLU. Neo Ivy Capital Management acquired a new position in shares of JetBlue Airways in the 2nd quarter valued at $33,000. Quarry LP acquired a new position in shares of JetBlue Airways in the 1st quarter valued at $32,000. Compass Wealth Management LLC acquired a new position in shares of JetBlue Airways in the 4th quarter valued at $35,000. Performa Ltd US LLC lifted its stake in shares of JetBlue Airways by 96.6% in the 3rd quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 2,800 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of JetBlue Airways by 41.3% in the 4th quarter. Versant Capital Management Inc now owns 6,371 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 1,861 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Stock Performance

JetBlue Airways stock opened at $7.11 on Monday. JetBlue Airways Co. has a 52-week low of $3.42 and a 52-week high of $9.45. The company has a fifty day simple moving average of $6.94 and a 200-day simple moving average of $5.62. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.32.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that JetBlue Airways Co. will post -0.72 EPS for the current year.

Analyst Ratings Changes

JBLU has been the subject of several analyst reports. Barclays initiated coverage on shares of JetBlue Airways in a research note on Wednesday, March 27th. They issued an “underweight” rating and a $6.00 target price for the company. Bank of America cut shares of JetBlue Airways from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $6.00 to $3.00 in a research report on Tuesday, January 9th. UBS Group started coverage on shares of JetBlue Airways in a research report on Wednesday, March 20th. They set a “sell” rating and a $5.00 price objective for the company. Evercore ISI upped their price objective on shares of JetBlue Airways from $5.00 to $8.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating and upped their price objective for the stock from $4.00 to $9.00 in a research report on Tuesday, February 20th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.86.

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.