Recent Insider Trading : Hawaiian Holdings, Inc. (HA)

Hawaiian Holdings, Inc. (NASDAQ:HA) insider has recently participated in insider trading activity. Director, Hirzel Zac sold 95,133 shares for $ 3,234,027 via one transaction Feb 11. Following the transaction, the insider now owns 12,572 shares in total, priced at $ 465918.32 as of Tuesday. Another notable insider trading was done by the same insider on Feb 10. Director sold 304,867 shares at an average price of $ 34.46 for a total of $ 10,506,570. Moreover, DUNKERLEY MARK B carried out a sale of 34,000 shares at $ 35.90 each on Jan 27. The transaction amounted to $ 1,220,600. President and CEO DUNKERLEY MARK B sold 30,000 shares for $ 935,509 through one transaction Jan 15. Following this sale, this insider’s stake in the company comprises 779,098 shares, priced at $ 28873371.88 as of Tuesday.

The stock has experienced a total of 39 insider trades in the past three months. These trades include 26 sell activities and 13 buy trades. Furthermore, over the past 12 months, the stock was traded 122 times by insiders. In 95 of these trades, the insider was a seller while an employee of the company was the buyer in just 27 instances.

Hawaiian Holdings, Inc. (HA) on January 26, 2016 reported its financial results for the fourth quarter and full year 2015.

• GAAP net income in the fourth quarter grew to $37.9 million or $0.66 per diluted share, a year-over-year increase of $26.8 million or $0.49 per diluted share. For the full year, GAAP net income grew to $182.6 million or $2.98 per diluted share, a year-over-year increase of $113.7 million or $1.88 per diluted share.


• Adjusted net income in the fourth quarter grew to $48.5 million or $0.85 per diluted share, an increase of $22.4 million or $0.45 cents per diluted share year-over-year. For the full year, adjusted net income grew to $189.3 million or $3.09 per diluted share compared to $97.1 million or $1.55 per diluted share in the prior year.


• GAAP pre-tax margin increased to 10.7% and 12.7% for the fourth quarter and full year 2015, respectively.


• Adjusted pre-tax margin increased to 13.8% and 13.2% for the fourth quarter and full year 2015, respectively.


• The Company lowered its leverage ratio to 2.7x in 2015 while maintaining a strong cash position of $560 million in unrestricted cash, cash equivalents, and short-term investments.

“Our fourth quarter results finish off a great year for Hawaiian,” said Mark Dunkerley, Hawaiian Airlines president and chief executive officer.  “The low cost of fuel, robust demand in all of our major geographies, manageable industry capacity growth between the US mainland and Hawai’i in the second half of the year, and the wonderful customer service delivered by my colleagues on the ground and in the air have combined for a record setting 2015. The strong financial results validate the decision we made to grow rapidly in the last five years.  The cash flow we generated in 2015 was used to pay down a portion of the debt we took on to finance our growth and for the further strengthening of our balance sheet.  Looking forward, our outlook is for these positive trends to continue and the headwind of a strong US dollar in our international markets to decelerate, giving us a measure of confidence that 2016 will be an even better year for our business.”

Statistical data, as well as a reconciliation of the reported non-GAAP financial measures, can be found in the accompanying tables.

Liquidity and Capital Resources

As of December 31, 2015 the Company had:

• Unrestricted cash, cash equivalents and short-term investments of $560 million.


• Outstanding debt and capital lease obligations of approximately $772 million consisting of the following:


• $559 million outstanding under secured loan agreements to finance a portion of the purchase price for 9 Airbus A330-200 aircraft.


• $118 million outstanding under secured loan agreements to finance a portion of the purchase price for 15 Boeing 717-200 aircraft.


• $95 million in capital lease obligations to finance the acquisition of an Airbus A330-200, two Boeing 717-200 aircraft and aircraft-related equipment.


• $0.3 million of outstanding Convertible Senior Notes.