State of New Jersey Common Pension Fund D Takes Position in Hawaiian Holdings, Inc. (NASDAQ:HA)
State of New Jersey Common Pension Fund D purchased a new position in Hawaiian Holdings, Inc. (NASDAQ:HA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 800,000 shares of the transportation company’s stock, valued at approximately $37,560,000. State of New Jersey Common Pension Fund D owned approximately 1.49% of Hawaiian Holdings at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Teachers Advisors LLC boosted its position in shares of Hawaiian Holdings by 10.2% in the fourth quarter. Teachers Advisors LLC now owns 425,522 shares of the transportation company’s stock worth $24,255,000 after buying an additional 39,308 shares in the last quarter. Creative Planning boosted its position in shares of Hawaiian Holdings by 2.3% in the first quarter. Creative Planning now owns 11,069 shares of the transportation company’s stock worth $514,000 after buying an additional 247 shares in the last quarter. Horan Capital Management bought a new position in shares of Hawaiian Holdings during the first quarter worth $232,000. Fox Run Management L.L.C. bought a new position in shares of Hawaiian Holdings during the first quarter worth $390,000. Finally, Americafirst Capital Management LLC bought a new position in shares of Hawaiian Holdings during the first quarter worth $127,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Hawaiian Holdings, Inc. (NASDAQ HA) opened at 42.25 on Friday. Hawaiian Holdings, Inc. has a 12 month low of $39.45 and a 12 month high of $60.90. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 10.28 and a beta of 1.38. The firm’s 50-day moving average price is $46.25 and its 200-day moving average price is $49.78.
Hawaiian Holdings (NASDAQ:HA) last announced its quarterly earnings results on Tuesday, July 25th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.05. Hawaiian Holdings had a return on equity of 44.12% and a net margin of 8.88%. The company had revenue of $675.33 million during the quarter, compared to the consensus estimate of $676.59 million. During the same period in the prior year, the company earned $1.21 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities analysts anticipate that Hawaiian Holdings, Inc. will post $5.76 earnings per share for the current year.
Hawaiian Holdings declared that its board has initiated a share buyback program on Thursday, April 20th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the transportation company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
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HA has been the topic of a number of analyst reports. Cowen and Company dropped their price target on Hawaiian Holdings from $54.00 to $52.00 and set a “market perform” rating on the stock in a research note on Monday, April 10th. Buckingham Research raised Hawaiian Holdings from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $63.00 in a research note on Friday, April 21st. They noted that the move was a valuation call. Imperial Capital lifted their price target on Hawaiian Holdings from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. Citigroup Inc. reissued a “neutral” rating and issued a $57.00 price target (up previously from $56.00) on shares of Hawaiian Holdings in a research note on Saturday, April 22nd. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $63.00 price target (up previously from $60.00) on shares of Hawaiian Holdings in a research note on Sunday, April 23rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Hawaiian Holdings has a consensus rating of “Hold” and a consensus target price of $52.25.
In other news, Director Donald J. Carty acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was acquired 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 $644,092.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Donald J. Carty acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average price of $53.31 per share, with a total value of $266,550.00. Following the completion of the acquisition, the director now owns 5,675 shares of the company’s stock, valued at approximately $302,534.25. The disclosure for this purchase can be found here. Insiders sold 55,000 shares of company stock valued at $2,918,460 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.
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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