BlackRock Fund Advisors recently announced the acquisition of new stake in Jetblue Airways Corp (NASDAQ:JBLU). The institutional investor has increased its shareholding in the Industrials company by 49.57% to 51.84 million shares with purchase of 17.18 million shares. This fresh investment now brings its stake to 15.55% valued currently at $229.13 million. In addition, The Vanguard Group, Inc. raised its holdings by 3.13 million to 36.26 million shares. And SSgA Funds Management, Inc. has lifted its position by 15.67% or 1.74 million shares – to 12.84 million shares.
With over 15.88 million Jetblue Airways Corp (JBLU) shares trading Friday and a closing price of $5.58 on the day, the dollar volume was approximately $88.59 million. The shares have shown a negative half year performance of -37.51% and its price on 01/05/24 gained nearly 4.89%. Currently, there are 333.29M common shares owned by the public and among those 332.09M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for JBLU have a consensus price objective of $4.75. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $3.00. The average price target is -17.47% below its recent price level and a downside to the estimated low will see the stock lose -86.0% over that period. But an upside of 7.0% will see the stock hit the forecast high price target while median target price for the stock is $4.75.
Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 261,955 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 116,335 shares.
The top 3 mutual fund holders in Jetblue Airways Corp are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and US Global Jets ETF. iShares Core S&P Small Cap ETF owns 22.3 million shares of the company’s stock, all valued at over $98.58 million. The company bought an additional 11574.0 shares recently to bring their total holdings to about 6.69% of the shares outstanding. Vanguard Total Stock Market ETF bought 25225.0 shares to see its total holdings expand to 10.4 million shares valued at over $45.97 million and representing 3.12% of the shares outstanding. US Global Jets ETF bought 0.28 million shares to bring its total holdings to over 9.58 million shares at a value of $42.33 million. US Global Jets ETF now owns shares totaling to 2.87% of the shares outstanding.
Shares of Jetblue Airways Corp (NASDAQ: JBLU) opened at $5.25, down -$0.07 from a prior closing price of $5.32. However, the script later moved the day high at 5.67, up 4.89%. The company’s stock has a 5-day price change of -3.46% and 18.98% over the past three months. JBLU shares are trading 0.54% year to date (YTD), with the 12-month market performance down to -21.41% lower. It has a 12-month low price of $3.42 and touched a high of $9.45 over the same period. JBLU has an average intraday trading volume of 15.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.25%, 17.36%, and -9.84% respectively.
Institutional ownership of Jetblue Airways Corp (NASDAQ: JBLU) shares accounts for 72.53% of the company’s 333.29M shares outstanding. Mutual fund holders own 26.91%, while other institutional holders and individual stakeholders account for 46.20% and 16.34% respectively.
It has a market capitalization of $1.86B and a beta (3y monthly) value of 1.80. The earnings-per-share (ttm) stands at -$0.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.30% over the week and 4.81% over the month.
Analysts forecast that Jetblue Airways Corp (JBLU) will achieve an EPS of -$0.32 for the current quarter, -$0.45 for the next quarter and -$0.62 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.5 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was $0.22 a year ago. Earnings per share for the fiscal year are expected to increase by 24.80%, and -2.51% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Jetblue Airways Corp (JBLU) as a “Hold” at a consensus score of 3.36. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 9 of the 14 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the JBLU, a number of firms have released research notes about the stock. Exane BNP Paribas stated their Underperform rating for the stock in a research note on November 10, 2023, with the firm’s price target at $3.
