Hawaiian Holdings, Inc. (HA): Are Hedge Funds Right About This Stock?

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Judging by the fact that Hawaiian Holdings, Inc. (NASDAQ:HA) has experienced declining sentiment from the smart money, it’s safe to say that there lies a certain “tier” of money managers who sold off their positions entirely in the third quarter. At the top of the heap, Richard Driehaus’ Driehaus Capital dropped the largest position of all the hedgies followed by Insider Monkey, valued at an estimated $3 million in stock, and George Soros’ Soros Fund Management was right behind this move, as the fund dumped about $2.5 million worth of shares. These bearish behaviors are intriguing to say the least, as total hedge fund interest fell by 2 funds in the third quarter.

Let’s check out hedge fund activity in other stocks similar to Hawaiian Holdings, Inc. (NASDAQ:HA). These stocks are DigitalGlobe Inc (NYSE:DGI), IPC The Hospitalist Company Inc (NASDAQ:IPCM), Moelis & Co (NYSE:MC), and Oil States International, Inc. (NYSE:OIS). This group of stocks’ market valuations are closest to HA’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
DGI 18 124024 -7
IPCM 15 260403 3
MC 11 45528 0
OIS 18 131093 1

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $140 million, which is lower than the $186 million figure in HA’s case. DigitalGlobe Inc (NYSE:DGI) and Oil States International, Inc. (NYSE:OIS) are the most popular stocks with a total of 18 funds reporting long positions in them, while Moelis & Co (NYSE:MC) is the least popular one. Compared to these stocks Hawaiian Holdings, Inc. (NASDAQ:HA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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