IFP Advisors Inc Has $599,000 Stake in Howard Hughes Corporation (The) (NYSE:HHC)

IFP Advisors Inc raised its stake in Howard Hughes Corporation (The) (NYSE:HHC) by 99.0% during the second quarter, Holdings Channel reports. The fund owned 4,875 shares of the financial services provider’s stock after buying an additional 2,425 shares during the period. IFP Advisors Inc’s holdings in Howard Hughes Corporation (The) were worth $599,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in Howard Hughes Corporation (The) during the first quarter valued at approximately $104,000. Envestnet Asset Management Inc. increased its position in Howard Hughes Corporation (The) by 6.2% in the first quarter. Envestnet Asset Management Inc. now owns 1,410 shares of the financial services provider’s stock valued at $165,000 after buying an additional 82 shares during the last quarter. Abner Herrman & Brock LLC acquired a new position in Howard Hughes Corporation (The) during the second quarter valued at approximately $202,000. Fayez Sarofim & Co acquired a new position in Howard Hughes Corporation (The) during the first quarter valued at approximately $204,000. Finally, Neuberger Berman Group LLC increased its position in Howard Hughes Corporation (The) by 10.1% in the first quarter. Neuberger Berman Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $232,000 after buying an additional 182 shares during the last quarter. 86.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Howard Hughes Corporation (NYSE HHC) opened at 120.00 on Friday. The stock has a 50 day moving average price of $122.75 and a 200 day moving average price of $120.49. Howard Hughes Corporation has a 12 month low of $101.20 and a 12 month high of $131.39. The firm has a market capitalization of $5.14 billion, a P/E ratio of 85.59 and a beta of 1.42.

Howard Hughes Corporation (The) (NYSE:HHC) last issued its earnings results on Monday, August 7th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.80. The firm had revenue of $308.60 million during the quarter, compared to the consensus estimate of $217.47 million. Howard Hughes Corporation (The) had a net margin of 5.69% and a return on equity of 4.80%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 earnings per share. On average, analysts expect that Howard Hughes Corporation will post $2.87 earnings per share for the current year.

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Several research firms have commented on HHC. BidaskClub raised shares of Howard Hughes Corporation (The) from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. BWS Financial assumed coverage on Howard Hughes Corporation (The) in a research report on Thursday, June 8th. They issued a “buy” rating and a $150.00 price target on the stock.

In other news, EVP Christopher John Curry sold 30,000 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $126.62, for a total value of $3,798,600.00. Following the sale, the executive vice president now directly owns 42,935 shares of the company’s stock, valued at approximately $5,436,429.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 20.70% of the stock is currently owned by corporate insiders.

About Howard Hughes Corporation (The)

The Howard Hughes Corporation is a developer of master planned communities and mixed use properties. The Company is engaged in the ownership, management and the redevelopment or repositioning of real estate assets, as well as other real estate opportunities in the form of entitled and unentitled land and other development rights, also called Strategic Developments.

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Institutional Ownership by Quarter for Howard Hughes Corporation (The) (NYSE:HHC)

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