First Mercantile Trust Co. Increases Stake in Hawaiian Holdings, Inc. (HA)
First Mercantile Trust Co. lifted its holdings in Hawaiian Holdings, Inc. (NASDAQ:HA) by 90.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,427 shares of the transportation company’s stock after purchasing an additional 2,572 shares during the period. First Mercantile Trust Co.’s holdings in Hawaiian were worth $216,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in HA. Prudential Financial Inc. lifted its position in Hawaiian by 370.3% during the third quarter. Prudential Financial Inc. now owns 981,730 shares of the transportation company’s stock valued at $36,864,000 after acquiring an additional 772,990 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in Hawaiian during the third quarter valued at approximately $15,463,000. Wells Fargo & Company MN lifted its position in Hawaiian by 219.2% during the third quarter. Wells Fargo & Company MN now owns 561,166 shares of the transportation company’s stock valued at $21,072,000 after acquiring an additional 385,337 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Hawaiian during the second quarter valued at approximately $12,159,000. Finally, Shell Asset Management Co. lifted its position in Hawaiian by 664.0% during the third quarter. Shell Asset Management Co. now owns 257,698 shares of the transportation company’s stock valued at $3,466,000 after acquiring an additional 223,969 shares during the last quarter. 92.30% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the stock. BidaskClub raised shares of Hawaiian from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Buckingham Research raised their price target on shares of Hawaiian from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, October 20th. Citigroup decreased their price target on shares of Hawaiian from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, October 20th. ValuEngine raised shares of Hawaiian from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Stifel Nicolaus raised their price target on shares of Hawaiian from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $48.36.
Hawaiian (NASDAQ:HA) last posted its quarterly earnings results on Monday, January 29th. The transportation company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.10. The business had revenue of $686.50 million during the quarter, compared to analysts’ expectations of $686.00 million. Hawaiian had a net margin of 13.51% and a return on equity of 38.73%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $1.28 earnings per share. sell-side analysts expect that Hawaiian Holdings, Inc. will post 5.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.24%. Hawaiian’s payout ratio is currently 7.01%.
Hawaiian announced that its board has authorized a share buyback program on Tuesday, December 5th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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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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