Elkhorn Partners Limited Partnership Cuts Position in JetBlue Airways Co. (NASDAQ:JBLU)

Elkhorn Partners Limited Partnership lessened its holdings in shares of JetBlue Airways Co. (NASDAQ:JBLU) by 13.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,000 shares of the transportation company’s stock after selling 2,200 shares during the quarter. Elkhorn Partners Limited Partnership’s holdings in JetBlue Airways were worth $104,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of JetBlue Airways in the first quarter worth $25,000. GAMMA Investing LLC grew its stake in shares of JetBlue Airways by 169.8% in the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock valued at $28,000 after buying an additional 2,377 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of JetBlue Airways during the 1st quarter valued at about $30,000. Resonant Capital Advisors LLC purchased a new stake in shares of JetBlue Airways during the 1st quarter valued at about $74,000. Finally, Versant Capital Management Inc lifted its position in JetBlue Airways by 62.7% during the 1st quarter. Versant Capital Management Inc now owns 10,363 shares of the transportation company’s stock worth $77,000 after acquiring an additional 3,992 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Stock Up 12.3 %

JetBlue Airways stock traded up $0.73 during midday trading on Tuesday, hitting $6.66. The stock had a trading volume of 52,841,132 shares, compared to its average volume of 14,383,619. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 1.78. The business has a fifty day moving average price of $5.78 and a 200 day moving average price of $6.15. JetBlue Airways Co. has a 12 month low of $3.42 and a 12 month high of $7.97. The stock has a market cap of $2.27 billion, a P/E ratio of -2.70 and a beta of 1.93.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Cowen dropped their price objective on shares of JetBlue Airways from $6.00 to $4.00 and set a “hold” rating on the stock in a research note on Wednesday, July 17th. Barclays cut their price objective on shares of JetBlue Airways from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Monday, May 6th. JPMorgan Chase & Co. lowered their target price on JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Citigroup cut their price target on JetBlue Airways from $6.90 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday, May 29th. Finally, Evercore ISI raised their price objective on JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.55.

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.