Hawaiian Holdings, Inc. (HA) Sees Large Drop in Short Interest
Hawaiian Holdings, Inc. (NASDAQ:HA) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,005,646 shares, a decrease of 30.9% from the October 13th total of 5,794,940 shares. Based on an average daily volume of 1,714,048 shares, the days-to-cover ratio is currently 2.3 days. Approximately 7.8% of the shares of the company are sold short.
A number of brokerages have issued reports on HA. Cowen and Company reduced their price objective on shares of Hawaiian Holdings from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 26th. Morgan Stanley reduced their price objective on shares of Hawaiian Holdings from $40.00 to $39.00 and set an “underweight” rating on the stock in a research note on Thursday, August 17th. BidaskClub upgraded shares of Hawaiian Holdings from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 18th. Buckingham Research raised their price target on shares of Hawaiian Holdings from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, October 20th. Finally, Imperial Capital raised their price target on shares of Hawaiian Holdings from $72.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.58.
Hawaiian Holdings (HA) opened at $36.50 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.53. Hawaiian Holdings has a fifty-two week low of $32.40 and a fifty-two week high of $60.90. The stock has a market cap of $1,896.85, a P/E ratio of 6.21, a price-to-earnings-growth ratio of 2.88 and a beta of 1.42.
Hawaiian Holdings (NASDAQ:HA) last released its quarterly earnings data on Thursday, October 19th. The transportation company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.07. The company had revenue of $719.56 million during the quarter, compared to analyst estimates of $721.00 million. Hawaiian Holdings had a net margin of 7.67% and a return on equity of 41.49%. Hawaiian Holdings’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.91 EPS. sell-side analysts forecast that Hawaiian Holdings will post 5.55 earnings per share for the current year.
The business also recently disclosed a special dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 16th.
In related news, EVP Peter R. Ingram sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $40.65, for a total transaction of $40,650.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.30% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in HA. FNY Managed Accounts LLC bought a new stake in shares of Hawaiian Holdings in the 3rd quarter valued at $152,000. Riverhead Capital Management LLC increased its stake in shares of Hawaiian Holdings by 83.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,028 shares of the transportation company’s stock valued at $189,000 after acquiring an additional 1,828 shares in the last quarter. Flinton Capital Management LLC grew its position in Hawaiian Holdings by 80.9% in the 2nd quarter. Flinton Capital Management LLC now owns 4,508 shares of the transportation company’s stock valued at $212,000 after purchasing an additional 2,016 shares during the period. First Hawaiian Bank acquired a new stake in Hawaiian Holdings in the 3rd quarter valued at $224,000. Finally, First Quadrant L P CA grew its position in Hawaiian Holdings by 170.7% in the 2nd quarter. First Quadrant L P CA now owns 4,873 shares of the transportation company’s stock valued at $229,000 after purchasing an additional 3,073 shares during the period. Institutional investors own 92.63% 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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