Potrero Capital Research LLC Takes Position in Hawaiian Holdings, Inc. (NASDAQ:HA)

Potrero Capital Research LLC bought a new stake in shares of Hawaiian Holdings, Inc. (NASDAQ:HA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 124,629 shares of the transportation company’s stock, valued at approximately $3,324,000. Potrero Capital Research LLC owned approximately 0.24% of Hawaiian at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. GPS Wealth Strategies Group LLC purchased a new position in shares of Hawaiian in the 1st quarter worth about $26,000. Lederer & Associates Investment Counsel CA purchased a new position in shares of Hawaiian in the 1st quarter worth about $27,000. Quantbot Technologies LP purchased a new position in shares of Hawaiian in the 1st quarter worth about $63,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Hawaiian in the 1st quarter worth about $81,000. Finally, Captrust Financial Advisors raised its position in shares of Hawaiian by 3,456.8% in the 1st quarter. Captrust Financial Advisors now owns 3,379 shares of the transportation company’s stock worth $90,000 after purchasing an additional 3,284 shares during the last quarter. Hedge funds and other institutional investors own 72.71% of the company’s stock.

In other news, Director William S. Swelbar sold 4,000 shares of the stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $25.95, for a total transaction of $103,800.00. Following the completion of the transaction, the director now directly owns 25,461 shares in the company, valued at approximately $660,712.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shannon Lei Okinaka sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $30.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now owns 111,784 shares of the company’s stock, valued at $3,353,520. The disclosure for this sale can be found here. Insiders have sold a total of 9,000 shares of company stock valued at $241,000 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Hawaiian from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research report on Wednesday. Evercore ISI raised Hawaiian to an “underperform” rating in a research report on Monday, May 10th. MKM Partners assumed coverage on Hawaiian in a research report on Thursday, June 10th. They issued a “neutral” rating and a $27.00 target price for the company. Finally, Wolfe Research raised Hawaiian from a “peer perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research report on Wednesday, April 28th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $23.13.

Shares of NASDAQ:HA traded down $0.55 during mid-day trading on Thursday, reaching $19.75. 15,799 shares of the company traded hands, compared to its average volume of 1,165,219. The stock’s 50 day simple moving average is $24.99. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -2.21 and a beta of 2.41. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 3.23. Hawaiian Holdings, Inc. has a 52 week low of $11.50 and a 52 week high of $31.38.

Hawaiian (NASDAQ:HA) last posted its quarterly earnings results on Tuesday, April 27th. The transportation company reported ($3.85) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.71) by ($0.14). Hawaiian had a negative return on equity of 103.19% and a negative net margin of 91.32%. The business had revenue of $182.20 million during the quarter, compared to the consensus estimate of $198.20 million. During the same quarter in the previous year, the company earned ($0.74) earnings per share. The company’s revenue for the quarter was down 67.4% compared to the same quarter last year. On average, analysts forecast that Hawaiian Holdings, Inc. will post -6.25 EPS for the current year.

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; Portland, Oregon; and Seattle, Washington.

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Institutional Ownership by Quarter for Hawaiian (NASDAQ:HA)

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