Redwood Investment Management LLC Has $3.42 Million Stock Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

Redwood Investment Management LLC boosted its stake in JetBlue Airways Co. (NASDAQ:JBLU) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 532,915 shares of the transportation company’s stock after buying an additional 37,147 shares during the quarter. Redwood Investment Management LLC’s holdings in JetBlue Airways were worth $3,421,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of JBLU. Point72 DIFC Ltd grew its stake in shares of JetBlue Airways by 524.8% in the 3rd quarter. Point72 DIFC Ltd now owns 49,639 shares of the transportation company’s stock valued at $326,000 after buying an additional 41,694 shares in the last quarter. Prentice Capital Management LP bought a new position in JetBlue Airways in the 3rd quarter worth $658,000. HighTower Advisors LLC raised its holdings in JetBlue Airways by 399.6% in the 3rd quarter. HighTower Advisors LLC now owns 107,246 shares of the transportation company’s stock worth $704,000 after acquiring an additional 85,781 shares during the period. Centiva Capital LP acquired a new position in JetBlue Airways during the 3rd quarter worth $1,378,000. Finally, Paloma Partners Management Co acquired a new position in shares of JetBlue Airways during the 3rd quarter worth about $411,000. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $6.56 on Thursday. JetBlue Airways Co. has a 1 year low of $4.49 and a 1 year high of $8.07. The firm has a 50 day moving average of $6.55 and a 200-day moving average of $5.93. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 2.98.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. The business’s revenue was up .5% on a year-over-year basis. Equities research analysts expect that JetBlue Airways Co. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on JBLU shares. Susquehanna increased their price objective on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Evercore ISI upped their price target on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Citigroup boosted their price objective on JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com raised shares of JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Finally, TD Cowen lifted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.43.

JetBlue Airways 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.