Granahan Investment Management Inc. MA Increases Stake in Hawaiian Holdings, Inc. (HA)
Granahan Investment Management Inc. MA increased its holdings in Hawaiian Holdings, Inc. (NASDAQ:HA) by 100.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,030 shares of the transportation company’s stock after purchasing an additional 29,036 shares during the period. Granahan Investment Management Inc. MA owned approximately 0.11% of Hawaiian worth $2,179,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. boosted its position in Hawaiian by 370.3% during the 3rd quarter. Prudential Financial Inc. now owns 981,730 shares of the transportation company’s stock valued at $36,864,000 after buying an additional 772,990 shares during the period. BlackRock Inc. boosted its position in Hawaiian by 7.5% during the 2nd quarter. BlackRock Inc. now owns 7,247,487 shares of the transportation company’s stock valued at $340,268,000 after buying an additional 506,330 shares during the period. Hodges Capital Management Inc. purchased a new stake in Hawaiian during the 3rd quarter valued at $15,463,000. Wells Fargo & Company MN boosted its position in Hawaiian by 219.2% during the 3rd quarter. Wells Fargo & Company MN now owns 561,166 shares of the transportation company’s stock valued at $21,072,000 after buying an additional 385,337 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in Hawaiian during the 2nd quarter valued at $12,159,000. 93.86% of the stock is owned by institutional investors.
Hawaiian Holdings, Inc. (NASDAQ:HA) opened at $40.05 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $2,106.74, a PE ratio of 6.90, a P/E/G ratio of 3.15 and a beta of 1.51. Hawaiian Holdings, Inc. has a 12 month low of $32.40 and a 12 month high of $60.90.
The firm also recently declared a special dividend, which was paid on Thursday, November 30th. Investors of record on Friday, November 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, November 16th. Hawaiian’s payout ratio is 12.77%.
Hawaiian declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 5th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
Several research analysts have commented on HA shares. Morgan Stanley decreased their price objective on shares of Hawaiian from $40.00 to $39.00 and set an “underweight” rating for the company in a report on Thursday, August 17th. Cowen restated a “hold” rating and issued a $47.00 price objective on shares of Hawaiian in a report on Friday, September 1st. ValuEngine lowered shares of Hawaiian from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Macquarie started coverage on shares of Hawaiian in a report on Monday, September 25th. They issued an “outperform” rating and a $49.00 price objective for the company. Finally, Buckingham Research lowered shares of Hawaiian from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Hawaiian presently has an average rating of “Hold” and a consensus target price of $46.36.
In related news, EVP Peter R. Ingram sold 1,000 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $40.65, for a total value of $40,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.
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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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