Traders Sell JetBlue Airways Corporation (JBLU) on Strength After Insider Selling

Investors sold shares of JetBlue Airways Corporation (NASDAQ:JBLU) on strength during trading hours on Monday after an insider sold shares in the company. $31.46 million flowed into the stock on the tick-up and $76.48 million flowed out of the stock on the tick-down, for a money net flow of $45.02 million out of the stock. Of all stocks tracked, JetBlue Airways Corporation had the 0th highest net out-flow for the day. JetBlue Airways Corporation traded up $0.68 for the day and closed at $19.38Specifically, Director Joel Clinton Peterson sold 5,120 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $19.87, for a total transaction of $101,734.40. Following the transaction, the director now owns 549,942 shares in the company, valued at approximately $10,927,347.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP George Martin J. St sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $18.79, for a total transaction of $46,975.00. The disclosure for this sale can be found here. Insiders sold a total of 31,860 shares of company stock worth $683,975 in the last quarter. Insiders own 0.60% of the company’s stock.

Several research firms have recently issued reports on JBLU. Cowen and Company restated a “hold” rating and set a $21.00 price objective on shares of JetBlue Airways Corporation in a report on Friday, September 8th. Standpoint Research restated a “buy” rating on shares of JetBlue Airways Corporation in a report on Sunday, September 3rd. ValuEngine downgraded shares of JetBlue Airways Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Morgan Stanley dropped their price objective on shares of JetBlue Airways Corporation from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday, August 17th. Finally, BidaskClub downgraded shares of JetBlue Airways Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $25.77.

The firm’s 50 day moving average is $20.83 and its 200 day moving average is $21.45. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 10.04 and a beta of 0.59.

JetBlue Airways Corporation (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. JetBlue Airways Corporation had a net margin of 9.78% and a return on equity of 16.75%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm earned $0.53 earnings per share. JetBlue Airways Corporation’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that JetBlue Airways Corporation will post $1.94 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC increased its position in JetBlue Airways Corporation by 1.1% during the second quarter. Lord Abbett & CO. LLC now owns 513,100 shares of the transportation company’s stock worth $11,714,000 after acquiring an additional 5,800 shares during the period. Advisory Services Network LLC increased its holdings in JetBlue Airways Corporation by 659.7% in the 2nd quarter. Advisory Services Network LLC now owns 24,744 shares of the transportation company’s stock valued at $565,000 after buying an additional 21,487 shares during the period. U S Global Investors Inc. increased its holdings in JetBlue Airways Corporation by 62.5% in the 2nd quarter. U S Global Investors Inc. now owns 210,456 shares of the transportation company’s stock valued at $4,613,000 after buying an additional 80,938 shares during the period. National Asset Management Inc. increased its holdings in JetBlue Airways Corporation by 9.7% in the 2nd quarter. National Asset Management Inc. now owns 20,120 shares of the transportation company’s stock valued at $460,000 after buying an additional 1,771 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in JetBlue Airways Corporation by 2.7% in the 2nd quarter. Sterling Capital Management LLC now owns 1,237,619 shares of the transportation company’s stock valued at $28,255,000 after buying an additional 32,531 shares during the period. 84.53% of the stock is currently owned by institutional investors and hedge funds.

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About JetBlue Airways Corporation

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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