Schwab Charles Investment Management Inc. lowered its position in Hawaiian Holdings, Inc. (NASDAQ:HA) by 27.8% during the first quarter, Holdings Channel reports. The firm owned 268,569 shares of the transportation company’s stock after selling 103,658 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Hawaiian Holdings were worth $12,476,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Telemus Capital LLC increased its stake in shares of Hawaiian Holdings by 0.7% in the first quarter. Telemus Capital LLC now owns 37,058 shares of the transportation company’s stock worth $1,721,000 after buying an additional 244 shares during the period. Burney Co. increased its stake in shares of Hawaiian Holdings by 8.1% in the first quarter. Burney Co. now owns 195,302 shares of the transportation company’s stock worth $9,072,000 after buying an additional 14,562 shares during the period. CIBC World Markets Inc. increased its stake in shares of Hawaiian Holdings by 552.7% in the first quarter. CIBC World Markets Inc. now owns 30,042 shares of the transportation company’s stock worth $1,395,000 after buying an additional 25,439 shares during the period. Piermont Capital Management Inc. increased its stake in shares of Hawaiian Holdings by 34.4% in the first quarter. Piermont Capital Management Inc. now owns 24,084 shares of the transportation company’s stock worth $1,119,000 after buying an additional 6,165 shares during the period. Finally, Affinity Wealth Management increased its stake in shares of Hawaiian Holdings by 2.4% in the first quarter. Affinity Wealth Management now owns 6,918 shares of the transportation company’s stock worth $321,000 after buying an additional 161 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Hawaiian Holdings, Inc. (HA) opened at 46.65 on Thursday. The firm has a market capitalization of $2.50 billion, a PE ratio of 11.41 and a beta of 1.41. The company’s 50-day moving average is $49.04 and its 200 day moving average is $50.65. Hawaiian Holdings, Inc. has a 52-week low of $42.22 and a 52-week high of $60.90.
Hawaiian Holdings (NASDAQ:HA) last released its earnings results on Thursday, April 20th. The transportation company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.18. The company had revenue of $614.20 million for the quarter, compared to analyst estimates of $610.70 million. Hawaiian Holdings had a net margin of 9.42% and a return on equity of 44.77%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. Equities analysts expect that Hawaiian Holdings, Inc. will post $5.56 earnings per share for the current fiscal year.
Hawaiian Holdings declared that its board has initiated 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 purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
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A number of analysts recently issued reports on HA shares. Zacks Investment Research downgraded shares of Hawaiian Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, March 29th. Cowen and Company lowered their price target on shares of Hawaiian Holdings from $54.00 to $52.00 and set a “market perform” rating on the stock in a report on Monday, April 10th. Credit Suisse Group started coverage on shares of Hawaiian Holdings in a report on Monday, June 5th. They set an “outperform” rating and a $45.00 price target on the stock. Citigroup Inc. reissued a “neutral” rating and set a $57.00 price target (up from $56.00) on shares of Hawaiian Holdings in a report on Saturday, April 22nd. Finally, Morgan Stanley reissued an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Hawaiian Holdings in a report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $54.83.
In other Hawaiian Holdings news, EVP Peter R. Ingram sold 2,500 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $48.10, for a total value of $120,250.00. Following the transaction, the executive vice president now directly owns 199,411 shares in the company, valued at approximately $9,591,669.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark B. Dunkerley sold 19,000 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $56.91, for a total transaction of $1,081,290.00. Following the completion of the transaction, the insider now owns 352,942 shares in the company, valued at $20,085,929.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,408 shares of company stock worth $5,080,900. 2.30% of the stock is owned by insiders.
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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