Traders Purchase Large Volume of Hawaiian Put Options (NASDAQ:HA)

Hawaiian Holdings, Inc. (NASDAQ:HA) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 20,277 put options on the stock. This represents an increase of approximately 832% compared to the average volume of 2,175 put options.

Hedge Funds Weigh In On Hawaiian

A number of institutional investors have recently bought and sold shares of HA. Byrne Asset Management LLC bought a new stake in shares of Hawaiian during the 1st quarter valued at $28,000. PenderFund Capital Management Ltd. bought a new position in shares of Hawaiian in the 4th quarter worth about $37,000. Wetzel Investment Advisors Inc. lifted its position in Hawaiian by 31.6% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 12,500 shares of the transportation company’s stock valued at $162,000 after acquiring an additional 3,000 shares during the period. PNC Financial Services Group Inc. boosted its stake in Hawaiian by 210.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,487 shares of the transportation company’s stock worth $78,000 after acquiring an additional 3,719 shares in the last quarter. Finally, CWM LLC grew its holdings in Hawaiian by 97.2% in the fourth quarter. CWM LLC now owns 7,984 shares of the transportation company’s stock worth $113,000 after purchasing an additional 3,936 shares during the period. 70.15% of the stock is owned by institutional investors.

Hawaiian Price Performance

HA opened at $12.50 on Wednesday. The company has a debt-to-equity ratio of 16.74, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $648.13 million, a PE ratio of -2.16 and a beta of 2.37. The stock’s 50 day moving average price is $13.26 and its 200-day moving average price is $11.71. Hawaiian has a 52-week low of $3.70 and a 52-week high of $14.89.

Hawaiian (NASDAQ:HA) last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported ($2.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.75) by ($0.02). Hawaiian had a negative net margin of 10.90% and a negative return on equity of 301.69%. The company had revenue of $645.57 million for the quarter, compared to analysts’ expectations of $629.24 million. During the same period in the previous year, the firm posted ($2.17) earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Hawaiian will post -5.02 EPS for the current year.

Analyst Ratings Changes

Separately, Susquehanna lowered their price objective on shares of Hawaiian from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th.

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.