Hawaiian Holdings, Inc. (HA) Short Interest Up 22.1% in July
Hawaiian Holdings, Inc. (NASDAQ:HA) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 6,404,619 shares, an increase of 22.1% from the July 14th total of 5,244,791 shares. Currently, 12.2% of the company’s stock are short sold. Based on an average daily trading volume, of 1,562,356 shares, the short-interest ratio is currently 4.1 days.
Hawaiian Holdings (NASDAQ:HA) opened at 41.85 on Friday. The company has a market capitalization of $2.24 billion, a PE ratio of 10.18 and a beta of 1.38. The firm has a 50-day moving average of $44.83 and a 200 day moving average of $49.13. Hawaiian Holdings has a 12-month low of $39.45 and a 12-month high of $60.90.
Hawaiian Holdings (NASDAQ:HA) last released its earnings results on Tuesday, July 25th. The transportation company reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.05. The firm had revenue of $675.33 million for the quarter, compared to analysts’ expectations of $676.59 million. Hawaiian Holdings had a net margin of 8.88% and a return on equity of 44.12%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. Analysts forecast that Hawaiian Holdings will post $5.76 EPS for the current fiscal year.
Hawaiian Holdings declared that its board has authorized a share buyback plan on Thursday, April 20th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, insider Mark B. Dunkerley sold 18,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $53.71, for a total transaction of $966,780.00. Following the completion of the transaction, the insider now directly owns 357,942 shares in the company, valued at approximately $19,225,064.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Peter R. Ingram sold 1,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $41.78, for a total transaction of $41,780.00. Following the transaction, the executive vice president now owns 198,411 shares of the company’s stock, valued at $8,289,611.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,000 shares of company stock valued at $2,691,240. Company insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC boosted its position in Hawaiian Holdings by 2.3% in the first quarter. Flinton Capital Management LLC now owns 2,492 shares of the transportation company’s stock worth $116,000 after buying an additional 56 shares during the last quarter. Americafirst Capital Management LLC bought a new position in Hawaiian Holdings during the first quarter worth $127,000. First Mercantile Trust Co. boosted its position in Hawaiian Holdings by 17.2% in the first quarter. First Mercantile Trust Co. now owns 2,954 shares of the transportation company’s stock worth $137,000 after buying an additional 434 shares during the last quarter. Neuburgh Advisers LLC boosted its position in Hawaiian Holdings by 2.3% in the first quarter. Neuburgh Advisers LLC now owns 3,026 shares of the transportation company’s stock worth $141,000 after buying an additional 68 shares during the last quarter. Finally, US Bancorp DE boosted its position in Hawaiian Holdings by 42.4% in the first quarter. US Bancorp DE now owns 3,400 shares of the transportation company’s stock worth $158,000 after buying an additional 1,012 shares during the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.
A number of equities research analysts have recently issued reports on HA shares. Credit Suisse Group started coverage on shares of Hawaiian Holdings in a report on Monday, June 5th. They issued an “outperform” rating and a $45.00 target price on the stock. Citigroup Inc. reaffirmed a “neutral” rating and issued a $57.00 target price (up from $56.00) on shares of Hawaiian Holdings in a report on Saturday, April 22nd. ValuEngine cut shares of Hawaiian Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. BidaskClub cut shares of Hawaiian Holdings from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Zacks Investment Research cut shares of Hawaiian Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $52.25.
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Hawaiian Holdings Company Profile
Hawaiian Holdings, Inc is a holding company. The Company is engaged in the scheduled air transportation of passengers and cargo amongst the Hawaiian Islands (the Neighbor Island routes), between the Hawaiian Islands and certain cities in the United States (the North America routes), and between the Hawaiian Islands and the South Pacific, Australia, New Zealand and Asia (the International routes), collectively referred to as its Scheduled Operations.
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