Hawaiian Holdings, Inc. (NASDAQ:HA) Downgraded to Buy at ValuEngine
ValuEngine downgraded shares of Hawaiian Holdings, Inc. (NASDAQ:HA) from a strong-buy rating to a buy rating in a research note released on Monday morning.
Several other analysts have also commented on the stock. Stifel Nicolaus lowered shares of Hawaiian Holdings from a hold rating to a sell rating and lowered their price objective for the stock from $60.00 to $40.00 in a research report on Wednesday, June 14th. Zacks Investment Research raised shares of Hawaiian Holdings from a hold rating to a buy rating and set a $54.00 price objective on the stock in a research report on Tuesday, March 28th. Morgan Stanley reaffirmed an underweight rating and issued a $40.00 price objective (down previously from $52.00) on shares of Hawaiian Holdings in a research report on Thursday, June 22nd. Citigroup Inc. lifted their price objective on shares of Hawaiian Holdings from $59.00 to $62.00 and gave the stock a neutral rating in a research report on Friday, June 9th. Finally, Imperial Capital lifted their price objective on shares of Hawaiian Holdings from $68.00 to $71.00 and gave the stock an outperform rating in a research report on Friday, April 21st. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $54.83.
Hawaiian Holdings (NASDAQ:HA) traded down 0.837% on Monday, reaching $44.425. 931,229 shares of the company’s stock traded hands. Hawaiian Holdings has a 52-week low of $43.50 and a 52-week high of $60.90. The company’s 50 day moving average is $48.57 and its 200-day moving average is $50.40. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 10.862 and a beta of 1.42.
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Hawaiian Holdings announced that its Board of Directors has initiated a share buyback plan on Thursday, April 20th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the transportation company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Hawaiian Holdings news, CAO Ronald Anderson-Lehman sold 29,408 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $55.00, for a total transaction of $1,617,440.00. Following the completion of the sale, the chief accounting officer now owns 34,847 shares of the company’s stock, valued at approximately $1,916,585. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shannon Lei Okinaka sold 2,500 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $21.28, for a total transaction of $53,200.00. Following the sale, the chief financial officer now directly owns 33,838 shares of the company’s stock, valued at approximately $720,072.64. The disclosure for this sale can be found here. Insiders sold a total of 84,408 shares of company stock valued at $4,535,900 in the last ninety days. 2.30% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Flinton Capital Management LLC raised its position in shares of Hawaiian Holdings by 2.3% in the first quarter. Flinton Capital Management LLC now owns 2,492 shares of the transportation company’s stock valued at $116,000 after buying an additional 56 shares during the period. Americafirst Capital Management LLC bought a new position in shares of Hawaiian Holdings during the first quarter valued at approximately $127,000. First Mercantile Trust Co. raised its position in shares of Hawaiian Holdings by 17.2% in the first quarter. First Mercantile Trust Co. now owns 2,954 shares of the transportation company’s stock valued at $137,000 after buying an additional 434 shares during the period. Neuburgh Advisers LLC raised its position in shares of Hawaiian Holdings by 2.3% in the first quarter. Neuburgh Advisers LLC now owns 3,026 shares of the transportation company’s stock valued at $141,000 after buying an additional 68 shares during the period. Finally, US Bancorp DE raised its position in shares of Hawaiian Holdings by 42.4% in the first quarter. US Bancorp DE now owns 3,400 shares of the transportation company’s stock valued at $158,000 after buying an additional 1,012 shares during the period. 90.20% of the stock is owned by institutional investors and hedge funds.
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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