SSgA Funds Management, Inc. recently announced the acquisition of new stake in Hawaiian Holdings, Inc. (NASDAQ:HA). The institutional investor has increased its shareholding in the Industrials company by 8.05% to 2.5 million shares with purchase of 0.19 million shares. This fresh investment now brings its stake to 4.85% valued currently at $10.54 million. In addition, Towle & Co. raised its holdings by 1.46 million to 1.52 million shares. And Columbia Management Investment Ad has lifted its position by 55.21% or 0.39 million shares – to 1.11 million shares.
With over 35.49 million Hawaiian Holdings, Inc. (HA) shares trading Monday and a closing price of $14.22 on the day, the dollar volume was approximately $504.66 million. The shares have shown a positive half year performance of 69.08% and its price on 12/04/23 gained nearly 192.59%. Currently, there are 51.45M common shares owned by the public and among those 49.46M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for HA have a consensus price objective of $7.38. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $4.00. The average price target is -92.68% below its recent price level and a downside to the estimated low will see the stock lose -255.5% over that period. But an upside of 11.12% will see the stock hit the forecast high price target while median target price for the stock is $4.75.
Insiders at the company have transacted a total of 34 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 523,596 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 65,636 shares.
The top 3 mutual fund holders in Hawaiian Holdings, Inc. are US Global Jets ETF, Vanguard Total Stock Market ETF, and FFI Strategies Portfolio. US Global Jets ETF owns 6.56 million shares of the company’s stock, all valued at over $27.61 million. The company sold 14304.0 shares recently to bring their total holdings to about 12.70% of the shares outstanding. Vanguard Total Stock Market ETF sold 15624.0 shares to see its total holdings shrink to 1.53 million shares valued at over $6.45 million and representing 2.97% of the shares outstanding. FFI Strategies Portfolio now owns shares totaling to 2.65% of the shares outstanding.
Shares of Hawaiian Holdings, Inc. (NASDAQ: HA) opened at $13.59, up $8.73 from a prior closing price of $4.86. However, the script later moved the day high at 14.25, up 192.59%. The company’s stock has a 5-day price change of 223.18% and 80.23% over the past three months. HA shares are trading 38.60% year to date (YTD), with the 12-month market performance up to 2.38% higher. It has a 12-month low price of $3.70 and touched a high of $13.82 over the same period. HA has an average intraday trading volume of 2.83 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 214.50%, 193.63%, and 74.44% respectively.
Institutional ownership of Hawaiian Holdings, Inc. (NASDAQ: HA) shares accounts for 95.73% of the company’s 51.45M shares outstanding. Mutual fund holders own 38.98%, while other institutional holders and individual stakeholders account for 42.97% and 19.44% respectively.
It has a market capitalization of $734.18M and a beta (3y monthly) value of 2.03. The earnings-per-share (ttm) stands at -$4.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.18% over the week and 7.87% over the month.
Analysts forecast that Hawaiian Holdings, Inc. (HA) will achieve an EPS of -$2.35 for the current quarter, -$1.85 for the next quarter and -$2.96 for 2024. The lowest estimate earnings-per-share for the quarter is -$2.52 while analysts give the company a high EPS estimate of -$2.05. Comparatively, EPS for the current quarter was -$0.49 a year ago. Earnings per share for the fiscal year are expected to decrease by -43.68%, and 53.27% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Hawaiian Holdings, Inc. (HA) as a “Moderate Buy” at a consensus score of 2.67. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 5 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the HA, a number of firms have released research notes about the stock. Deutsche Bank stated their Buy rating for the stock in a research note on Dec-05-23, with the firm’s price target at $4-$16.
