Donald Smith & CO. Inc. bought a new stake in Howard Hughes Holdings Inc. (NYSE:HHH – Free Report) during the second quarter, HoldingsChannel reports. The firm bought 1,002,809 shares of the company’s stock, valued at approximately $71,691,000. Howard Hughes accounts for approximately 1.3% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 28th largest position.
Several other large investors have also modified their holdings of the stock. Allworth Financial LP bought a new stake in Howard Hughes in the second quarter valued at about $31,000. Huntington National Bank raised its stake in Howard Hughes by 134.1% during the fourth quarter. Huntington National Bank now owns 494 shares of the company’s stock valued at $39,000 after buying an additional 283 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Howard Hughes by 191.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company’s stock worth $35,000 after buying an additional 339 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Howard Hughes during the 4th quarter worth approximately $43,000. Finally, Atlas Capital Advisors Inc. bought a new position in Howard Hughes during the 4th quarter worth approximately $43,000. Institutional investors own 93.83% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on HHH. JPMorgan Chase & Co. boosted their price target on Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Zacks Research cut Howard Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $79.00.
Insider Transactions at Howard Hughes
In other news, Director Mary Ann Tighe sold 13,495 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $67.25, for a total transaction of $907,538.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 48.00% of the company’s stock.
Howard Hughes Trading Down 1.8%
Shares of NYSE HHH opened at $66.72 on Friday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 13.51 and a beta of 1.14. Howard Hughes Holdings Inc. has a 12-month low of $61.01 and a 12-month high of $91.07. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 2.08. The stock’s 50 day simple moving average is $68.66 and its 200 day simple moving average is $68.07.
Howard Hughes (NYSE:HHH – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $2.19. The business had revenue of $1.12 billion during the quarter. Howard Hughes had a return on equity of 10.19% and a net margin of 12.31%.The company’s revenue for the quarter was up 330.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.22) EPS. Equities research analysts expect that Howard Hughes Holdings Inc. will post 2.77 EPS for the current year.
About Howard Hughes
Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.
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