Short Interest in Hawaiian Holdings, Inc. (NASDAQ:HA) Increases By 22.1%
Hawaiian Holdings, Inc. (NASDAQ:HA) saw a large increase in short interest in 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. Approximately 12.2% of the shares of the stock are sold short. Based on an average daily volume of 1,562,356 shares, the days-to-cover ratio is currently 4.1 days.
Several analysts recently weighed in on HA shares. Credit Suisse Group started coverage on Hawaiian Holdings in a research report on Monday, June 5th. They set an “outperform” rating and a $45.00 price objective for the company. Citigroup Inc. restated a “neutral” rating and set a $57.00 price objective (up from $56.00) on shares of Hawaiian Holdings in a research report on Saturday, April 22nd. ValuEngine downgraded Hawaiian Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. BidaskClub downgraded Hawaiian Holdings from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research downgraded Hawaiian Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Hawaiian Holdings has an average rating of “Hold” and a consensus target price of $52.25.
Hawaiian Holdings (NASDAQ HA) opened at 42.80 on Tuesday. The company has a market capitalization of $2.29 billion, a P/E ratio of 10.41 and a beta of 1.38. The firm has a 50-day moving average price of $44.72 and a 200 day moving average price of $48.99. Hawaiian Holdings has a 52-week low of $39.45 and a 52-week high of $60.90.
Hawaiian Holdings (NASDAQ:HA) last posted its quarterly earnings data on Tuesday, July 25th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. Hawaiian Holdings had a return on equity of 44.12% and a net margin of 8.88%. The firm had revenue of $675.33 million during the quarter, compared to analysts’ expectations of $676.59 million. During the same period in the prior year, the business earned $1.21 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts predict that Hawaiian Holdings will post $5.76 earnings per share for the current fiscal year.
Hawaiian Holdings declared that its board has initiated a share repurchase program on Thursday, April 20th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the transportation company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
In other news, EVP Peter R. Ingram sold 1,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $41.78, for a total transaction of $41,780.00. Following the sale, the executive vice president now directly owns 198,411 shares of the company’s stock, valued at approximately $8,289,611.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Donald J. Carty bought 3,000 shares of Hawaiian Holdings stock in a transaction dated Wednesday, June 21st. The shares were bought at an average cost of $47.10 per share, for a total transaction of $141,300.00. Following the completion of the acquisition, the director now owns 13,675 shares in the company, valued at approximately $644,092.50. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 33,000 shares of company stock worth $1,724,460. 2.30% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. 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 purchased a new position in Hawaiian Holdings during the first quarter worth about $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 91.07% of the company’s stock.
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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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