Investors Purchase High Volume of Hawaiian Put Options (NASDAQ:HA)

Hawaiian Holdings, Inc. (NASDAQ:HA) saw unusually large options trading on Tuesday. Stock traders bought 18,393 put options on the stock. This is an increase of approximately 251% compared to the average volume of 5,239 put options.

Analysts Set New Price Targets

Several research analysts have weighed in on HA shares. TD Cowen lifted their target price on Hawaiian from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Susquehanna decreased their price target on Hawaiian from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hawaiian has an average rating of “Hold” and an average target price of $11.75.

Hawaiian Stock Performance

NASDAQ HA opened at $17.68 on Wednesday. The business’s 50-day moving average price is $13.23 and its 200 day moving average price is $13.38. Hawaiian has a twelve month low of $3.70 and a twelve month high of $17.75. The company has a market capitalization of $916.69 million, a PE ratio of -3.05 and a beta of 2.38. The company has a current ratio of 1.11, a quick ratio of 0.89 and a debt-to-equity ratio of 16.74.

Hawaiian (NASDAQ:HA) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.34) by ($0.03). The firm had revenue of $731.91 million for the quarter, compared to analyst estimates of $745.68 million. Hawaiian had a negative return on equity of 1,220.98% and a negative net margin of 12.80%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.47) earnings per share. On average, research analysts predict that Hawaiian will post -6.83 earnings per share for the current year.

Institutional Investors Weigh In On Hawaiian

A number of large investors have recently modified their holdings of the stock. Water Island Capital LLC grew its stake in Hawaiian by 110.4% during the 2nd quarter. Water Island Capital LLC now owns 42,821 shares of the transportation company’s stock valued at $532,000 after purchasing an additional 452,676 shares in the last quarter. Murchinson Ltd. acquired a new stake in Hawaiian during the 2nd quarter valued at approximately $2,237,000. The Manufacturers Life Insurance Company grew its stake in Hawaiian by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,562 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 1,226 shares in the last quarter. Gabelli Funds LLC grew its stake in Hawaiian by 18.7% during the 2nd quarter. Gabelli Funds LLC now owns 70,950 shares of the transportation company’s stock valued at $882,000 after purchasing an additional 11,200 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Hawaiian by 39.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 13,910 shares of the transportation company’s stock valued at $173,000 after purchasing an additional 3,910 shares in the last quarter. Institutional investors and hedge funds own 70.15% of the company’s stock.

About Hawaiian

Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, engages in the scheduled air transportation of passengers and cargo. It provides daily services on North America routes between the State of Hawai'i and Long Beach, Los Angeles, Oakland, Ontario, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Seattle, Washington; Portland, Oregon; Phoenix, Arizona; New York City, New York; Austin, Texas; and Boston, Massachusetts.