Smith Asset Management Group LP Purchases 430 Shares of Hawaiian Holdings, Inc. (HA)
Smith Asset Management Group LP boosted its position in Hawaiian Holdings, Inc. (NASDAQ:HA) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 63,140 shares of the transportation company’s stock after buying an additional 430 shares during the period. Smith Asset Management Group LP’s holdings in Hawaiian Holdings were worth $2,964,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in HA. Flinton Capital Management LLC raised 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 period. Americafirst Capital Management LLC bought a new position in Hawaiian Holdings during the first quarter worth approximately $127,000. First Mercantile Trust Co. raised 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 period. Neuburgh Advisers LLC raised 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 period. Finally, US Bancorp DE raised 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 period. Institutional investors own 91.92% of the company’s stock.
Hawaiian Holdings, Inc. (HA) opened at 41.85 on Friday. Hawaiian Holdings, Inc. has a 52 week low of $39.45 and a 52 week high of $60.90. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 10.18 and a beta of 1.38. The stock has a 50 day moving average price of $44.83 and a 200 day moving average price of $49.13.
Hawaiian Holdings (NASDAQ:HA) last released its quarterly earnings results on Tuesday, July 25th. The transportation company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. The firm had revenue of $675.33 million for the quarter, compared to analysts’ expectations of $676.59 million. Hawaiian Holdings had a net margin of 8.88% and a return on equity of 44.12%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, equities analysts forecast that Hawaiian Holdings, Inc. will post $5.76 earnings per share for the current year.
Hawaiian Holdings declared that its board has approved a share buyback plan on Thursday, April 20th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of equities analysts have commented on the company. BidaskClub lowered Hawaiian Holdings from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Stifel Nicolaus upgraded Hawaiian Holdings from a “sell” rating to a “hold” rating and set a $40.00 price objective on the stock in a research note on Friday, July 28th. Imperial Capital restated an “outperform” rating and set a $74.00 price objective on shares of Hawaiian Holdings in a research note on Thursday, July 27th. Citigroup Inc. lowered their price objective on Hawaiian Holdings from $62.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 26th. Finally, Morgan Stanley restated an “underweight” rating and set a $40.00 price objective (down previously from $41.00) on shares of Hawaiian Holdings in a research note on Wednesday, July 26th. Three equities 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. The stock has an average rating of “Hold” and an average target price of $52.25.
In other news, EVP Peter R. Ingram sold 1,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $41.78, for a total value of $41,780.00. Following the transaction, the executive vice president now owns 198,411 shares of the company’s stock, valued at $8,289,611.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Shannon Lei Okinaka sold 2,500 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $21.28, for a total transaction of $53,200.00. Following the completion of the transaction, the chief financial officer now directly owns 33,838 shares in the company, valued at approximately $720,072.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,000 shares of company stock worth $2,691,240. Insiders own 2.30% of the company’s stock.
About Hawaiian Holdings
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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