C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New Investment in JetBlue Airways Co. (NASDAQ:JBLU)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in JetBlue Airways Co. (NASDAQ:JBLU) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 5,112 shares of the transportation company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bogart Wealth LLC grew its holdings in shares of JetBlue Airways by 1,951.2% during the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after purchasing an additional 4,000 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of JetBlue Airways during the 3rd quarter worth $28,000. Blue Trust Inc. grew its holdings in shares of JetBlue Airways by 130.8% during the 4th quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company’s stock worth $35,000 after purchasing an additional 2,538 shares during the period. R Squared Ltd purchased a new position in shares of JetBlue Airways during the 4th quarter worth $58,000. Finally, Glenmede Trust Co. NA purchased a new position in shares of JetBlue Airways during the 3rd quarter worth $66,000. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Stock Performance

Shares of JBLU opened at $6.78 on Friday. The stock has a 50-day simple moving average of $7.25 and a 200-day simple moving average of $6.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The stock has a market capitalization of $2.35 billion, a PE ratio of -2.90 and a beta of 1.83. JetBlue Airways Co. has a 1 year low of $4.49 and a 1 year high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.29% and a negative net margin of 8.57%. During the same period in the previous year, the firm posted ($0.19) earnings per share. On average, analysts predict that JetBlue Airways Co. will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, Director Nik Mittal bought 100,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $6.14 per share, with a total value of $614,000.00. Following the transaction, the director now owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. The trade was a 608.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JBLU. The Goldman Sachs Group reiterated a “sell” rating and set a $5.50 price target on shares of JetBlue Airways in a report on Friday, November 15th. Citigroup increased their price target on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Susquehanna lowered their target price on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Bank of America restated an “underperform” rating and set a $6.50 target price on shares of JetBlue Airways in a report on Friday, January 17th. Finally, StockNews.com upgraded JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.51.

About JetBlue Airways

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.