Amalgamated Bank decreased its position in shares of Hawaiian Holdings, Inc. (NASDAQ:HA) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,983 shares of the transportation company’s stock after selling 6 shares during the period. Amalgamated Bank’s holdings in Hawaiian Holdings were worth $324,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in HA. Flinton Capital Management LLC increased 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. Municipal Employees Retirement System of Michigan increased its position in shares of Hawaiian Holdings by 0.4% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,320 shares of the transportation company’s stock valued at $712,000 after buying an additional 60 shares during the period. Renaissance Group LLC increased its position in shares of Hawaiian Holdings by 1.0% in the first quarter. Renaissance Group LLC now owns 6,263 shares of the transportation company’s stock valued at $291,000 after buying an additional 64 shares during the period. Neuburgh Advisers LLC increased 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, Fifth Third Bancorp increased its position in shares of Hawaiian Holdings by 0.8% in the first quarter. Fifth Third Bancorp now owns 11,147 shares of the transportation company’s stock valued at $518,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.
Shares of Hawaiian Holdings, Inc. (HA) opened at 47.10 on Tuesday. Hawaiian Holdings, Inc. has a 12 month low of $42.22 and a 12 month high of $60.90. The stock’s 50 day moving average is $50.67 and its 200 day moving average is $51.74. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 11.52 and a beta of 1.42.
Hawaiian Holdings (NASDAQ:HA) last released its quarterly earnings results on Thursday, April 20th. The transportation company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Hawaiian Holdings had a net margin of 9.42% and a return on equity of 44.77%. The business had revenue of $614.20 million for the quarter, compared to analyst estimates of $610.70 million. During the same period last year, the firm earned $0.80 earnings per share. Hawaiian Holdings’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts forecast that Hawaiian Holdings, Inc. will post $5.56 earnings per share for the current fiscal year.
Hawaiian Holdings announced that its Board of Directors has initiated a share repurchase program on Thursday, April 20th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the transportation company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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Several research analysts recently commented on HA shares. Stifel Nicolaus downgraded shares of Hawaiian Holdings from a “hold” rating to a “sell” rating and dropped their target price for the stock from $60.00 to $40.00 in a report on Wednesday, June 14th. Zacks Investment Research upgraded shares of Hawaiian Holdings from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Tuesday, March 28th. Morgan Stanley restated an “underweight” rating and set a $40.00 price objective (down previously from $52.00) on shares of Hawaiian Holdings in a report on Thursday, June 22nd. Citigroup Inc. boosted their price objective on shares of Hawaiian Holdings from $59.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, June 9th. Finally, Imperial Capital boosted their price objective on shares of Hawaiian Holdings from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $54.83.
In related news, EVP Peter R. Ingram sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $48.10, for a total transaction of $120,250.00. Following the transaction, the executive vice president now directly owns 199,411 shares of the company’s stock, valued at $9,591,669.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark B. Dunkerley sold 19,000 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $56.91, for a total transaction of $1,081,290.00. Following the sale, 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 ninety days, insiders have sold 106,908 shares of company stock worth $5,710,900. 2.30% of the stock is owned by insiders.
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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