Hedge Fund Ownership of Hawaiian Holdings, Inc. (HA) Beginning to Take Off

With general bullishness amongst the heavyweights, key money managers were breaking ground themselves. Folger Hill Asset Management, managed by Solomon Kumin, created the biggest position in Hawaiian Holdings, Inc. (NASDAQ:HA). Folger Hill Asset Management had $3 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $2.7 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Ray Carroll’s Breton Hill Capital, and Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Hawaiian Holdings, Inc. (NASDAQ:HA) but similarly valued. These stocks are Essent Group Ltd (NYSE:ESNT), Suburban Propane Partners LP (NYSE:SPH), Electronics For Imaging, Inc. (NASDAQ:EFII), and MGIC Investment Corp. (NYSE:MTG). This group of stocks’ market values match HA’s market value.

As you can see these stocks had an average of 16.25 hedge funds with bullish positions and the average amount invested in these stocks was $205 million. That figure was $226 million in HA’s case. MGIC Investment Corp. (NYSE:MTG) is the most popular stock in this table. On the other hand Suburban Propane Partners LP (NYSE:SPH) is the least popular one with only 4 bullish hedge fund positions. Hawaiian Holdings, Inc. (NASDAQ:HA) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MTG might be a better candidate to consider a long position in (though favor for that stock dipped heavily in Q3, it still has far more hedge fund shareholders).

Disclosure: None