Prestige Wealth Management Group LLC bought a new position in shares of Hawaiian Holdings, Inc. (NASDAQ:HA) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 15,735 shares of the transportation company’s stock, valued at approximately $431,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Hawaiian by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 555,616 shares of the transportation company’s stock worth $14,673,000 after acquiring an additional 23,805 shares during the last quarter. Rhumbline Advisers lifted its holdings in Hawaiian by 0.3% in the first quarter. Rhumbline Advisers now owns 147,274 shares of the transportation company’s stock valued at $3,866,000 after buying an additional 406 shares during the period. Texas Permanent School Fund increased its stake in Hawaiian by 1.7% in the first quarter. Texas Permanent School Fund now owns 32,878 shares of the transportation company’s stock valued at $863,000 after purchasing an additional 549 shares in the last quarter. Raymond James & Associates increased its stake in Hawaiian by 29.4% in the first quarter. Raymond James & Associates now owns 151,576 shares of the transportation company’s stock valued at $3,979,000 after purchasing an additional 34,411 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. increased its stake in Hawaiian by 4.0% in the first quarter. Piedmont Investment Advisors Inc. now owns 12,226 shares of the transportation company’s stock valued at $321,000 after purchasing an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 90.73% of the company’s stock.
In other Hawaiian news, Director William S. Swelbar sold 1,203 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $25.30, for a total transaction of $30,435.90. Following the completion of the sale, the director now owns 19,563 shares of the company’s stock, valued at approximately $494,943.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.
Hawaiian (NASDAQ:HA) last released its earnings results on Tuesday, July 30th. The transportation company reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.19. Hawaiian had a net margin of 7.76% and a return on equity of 24.26%. The company had revenue of $712.19 million for the quarter, compared to analyst estimates of $704.74 million. During the same quarter last year, the firm earned $1.44 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that Hawaiian Holdings, Inc. will post 3.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Thursday, August 15th. Hawaiian’s dividend payout ratio is currently 8.82%.
HA has been the subject of several recent research reports. Stifel Nicolaus downgraded shares of Hawaiian from a “buy” rating to a “sell” rating and decreased their target price for the stock from $30.00 to $20.00 in a research report on Tuesday, August 20th. Buckingham Research dropped their target price on shares of Hawaiian from $33.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. ValuEngine cut shares of Hawaiian from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 6th. BidaskClub cut shares of Hawaiian from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Citigroup set a $30.00 target price on shares of Hawaiian and gave the company a “hold” rating in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.78.
Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, engages in the scheduled air transportation of passengers and cargo. The company offers daily services on North America routes between the State of Hawai'i and Long Beach, Los Angeles, Oakland, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Phoenix, Arizona; Portland, Oregon; Seattle, Washington, and New York City, New York.
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