Hawaiian Sees Unusually High Options Volume (NASDAQ:HA)

Hawaiian Holdings, Inc. (NASDAQ:HA) saw unusually large options trading on Wednesday. Stock investors bought 3,418 call options on the stock. This is an increase of approximately 310% compared to the average daily volume of 833 call options.

NASDAQ:HA opened at $12.60 on Friday. The business has a 50 day moving average of $20.09 and a 200 day moving average of $26.63. The company has a market capitalization of $587.14 million, a price-to-earnings ratio of 2.66 and a beta of 1.82. Hawaiian has a 1-year low of $7.55 and a 1-year high of $31.34. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81.

Hawaiian (NASDAQ:HA) last released its earnings results on Thursday, January 30th. The transportation company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.12. The company had revenue of $708.13 million during the quarter, compared to the consensus estimate of $719.51 million. Hawaiian had a return on equity of 21.20% and a net margin of 7.91%. Hawaiian’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. As a group, sell-side analysts anticipate that Hawaiian will post 2.95 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $0.48 dividend on an annualized basis and a yield of 3.81%. Hawaiian’s payout ratio is 10.43%.

Several research analysts have recently commented on HA shares. Bank of America cut their price objective on Hawaiian from $19.00 to $9.00 and set an “underperform” rating for the company in a report on Monday. Buckingham Research cut their price objective on Hawaiian from $32.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Sidoti cut their price objective on Hawaiian from $33.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 20th. BidaskClub raised Hawaiian from a “strong sell” rating to a “sell” rating in a report on Thursday. Finally, Deutsche Bank upgraded Hawaiian from a “sell” rating to a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $25.75.

A number of hedge funds have recently made changes to their positions in HA. Norges Bank bought a new stake in Hawaiian in the fourth quarter valued at approximately $21,731,000. Dalton Greiner Hartman Maher & Co. bought a new stake in Hawaiian in the fourth quarter valued at approximately $8,988,000. Renaissance Technologies LLC lifted its position in Hawaiian by 239.4% in the fourth quarter. Renaissance Technologies LLC now owns 299,000 shares of the transportation company’s stock valued at $8,758,000 after purchasing an additional 210,900 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Hawaiian by 134.6% in the fourth quarter. Public Sector Pension Investment Board now owns 281,663 shares of the transportation company’s stock valued at $8,250,000 after purchasing an additional 161,608 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Hawaiian in the fourth quarter valued at approximately $3,682,000. Hedge funds and other institutional investors own 93.05% of the company’s stock.

Hawaiian Company Profile

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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