Murchinson Ltd. Invests $1.12 Million in Hawaiian Holdings, Inc. (NASDAQ:HA)

Murchinson Ltd. purchased a new stake in shares of Hawaiian Holdings, Inc. (NASDAQ:HA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 90,000 shares of the transportation company’s stock, valued at approximately $1,119,000.

Several other large investors have also recently added to or reduced their stakes in HA. PenderFund Capital Management Ltd. acquired a new stake in shares of Hawaiian during the fourth quarter worth $37,000. PNC Financial Services Group Inc. grew its position in shares of Hawaiian by 210.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,487 shares of the transportation company’s stock valued at $78,000 after buying an additional 3,719 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in Hawaiian during the second quarter worth about $146,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in Hawaiian by 39.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 13,910 shares of the transportation company’s stock worth $173,000 after acquiring an additional 3,910 shares during the last quarter. Finally, Olympiad Research LP acquired a new position in Hawaiian in the fourth quarter valued at approximately $254,000. 70.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, TD Cowen increased their price target on Hawaiian from $13.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Hawaiian currently has a consensus rating of “Hold” and an average target price of $13.00.

Hawaiian Stock Performance

Hawaiian stock opened at $18.00 on Tuesday. Hawaiian Holdings, Inc. has a 52-week low of $3.70 and a 52-week high of $18.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 16.74. The firm has a market capitalization of $933.28 million, a price-to-earnings ratio of -3.11 and a beta of 2.40. The firm has a 50-day moving average price of $15.44 and a two-hundred day moving average price of $13.96.

Hawaiian (NASDAQ:HA) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.03). The business had revenue of $731.91 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company earned ($0.47) earnings per share. Sell-side analysts expect that Hawaiian Holdings, Inc. will post -7.62 earnings per share for the current year.

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.