Donald Smith & CO. Inc. Reduces Stock Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

Donald Smith & CO. Inc. decreased its stake in JetBlue Airways Co. (NASDAQ:JBLU) by 12.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,570,210 shares of the transportation company’s stock after selling 1,685,884 shares during the quarter. JetBlue Airways comprises 1.8% of Donald Smith & CO. Inc.’s portfolio, making the stock its 22nd biggest holding. Donald Smith & CO. Inc. owned about 3.40% of JetBlue Airways worth $70,463,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of JBLU. Allspring Global Investments Holdings LLC purchased a new position in shares of JetBlue Airways in the 1st quarter worth approximately $25,000. Trust Co. of Vermont purchased a new position in shares of JetBlue Airways in the 2nd quarter worth approximately $27,000. GAMMA Investing LLC boosted its holdings in shares of JetBlue Airways by 169.8% in the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after purchasing an additional 2,377 shares during the period. YHB Investment Advisors Inc. purchased a new position in shares of JetBlue Airways in the 1st quarter worth approximately $30,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of JetBlue Airways in the 2nd quarter worth approximately $63,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on JBLU. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $3.00 to $6.00 in a report on Monday, September 9th. Citigroup boosted their price objective on JetBlue Airways from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday. Finally, TD Cowen boosted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.00.

JetBlue Airways Trading Up 0.3 %

Shares of NASDAQ JBLU opened at $5.94 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.54 and a debt-to-equity ratio of 1.86. The business has a fifty day simple moving average of $5.53 and a two-hundred day simple moving average of $6.00. The firm has a market cap of $2.02 billion, a PE ratio of -2.40 and a beta of 1.90. JetBlue Airways Co. has a twelve month low of $3.42 and a twelve month high of $7.58.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.40 billion. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. JetBlue Airways’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. Analysts expect that JetBlue Airways Co. will post -0.99 earnings per share for the current fiscal year.

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.