Permanens Capital L.P. Purchases Shares of 169,075 Howard Hughes Holdings Inc. $HHH

Permanens Capital L.P. acquired a new position in Howard Hughes Holdings Inc. (NYSE:HHHFree Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 169,075 shares of the company’s stock, valued at approximately $12,087,000. Howard Hughes comprises 1.2% of Permanens Capital L.P.’s portfolio, making the stock its 17th biggest position. Permanens Capital L.P. owned 0.28% of Howard Hughes at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HHH. Brighton Jones LLC purchased a new stake in Howard Hughes during the fourth quarter valued at about $511,000. Royal Bank of Canada grew its stake in shares of Howard Hughes by 1,900.6% during the first quarter. Royal Bank of Canada now owns 99,248 shares of the company’s stock valued at $7,353,000 after buying an additional 94,287 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Howard Hughes by 2,368.8% in the first quarter. Millennium Management LLC now owns 165,926 shares of the company’s stock worth $12,292,000 after buying an additional 159,205 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Howard Hughes by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 118,589 shares of the company’s stock worth $8,785,000 after buying an additional 25,001 shares during the period. Finally, Focus Partners Wealth bought a new stake in shares of Howard Hughes in the 1st quarter valued at about $254,000. Institutional investors own 93.83% of the company’s stock.

Howard Hughes Price Performance

HHH opened at $65.62 on Thursday. The stock’s 50 day moving average price is $68.62 and its 200-day moving average price is $67.69. Howard Hughes Holdings Inc. has a 52-week low of $61.01 and a 52-week high of $91.07. The stock has a market capitalization of $3.92 billion, a PE ratio of 13.28 and a beta of 1.14. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.58 and a current ratio of 1.58.

Howard Hughes (NYSE:HHHGet Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $0.49 by $2.19. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The business had revenue of $1.12 billion for the quarter. During the same quarter last year, the firm earned ($0.22) EPS. The business’s revenue was up 330.2% on a year-over-year basis. On average, equities research analysts predict that Howard Hughes Holdings Inc. will post 2.77 EPS for the current year.

Wall Street Analyst Weigh In

HHH has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price 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 downgraded Howard Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Wall Street Zen raised Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Howard Hughes presently has an average rating of “Reduce” and a consensus price target of $79.00.

Check Out Our Latest Stock Analysis on HHH

Insider Buying and Selling at Howard Hughes

In other news, Director Mary Ann Tighe sold 13,495 shares of Howard Hughes stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 47.70% of the company’s stock.

About Howard Hughes

(Free Report)

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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Institutional Ownership by Quarter for Howard Hughes (NYSE:HHH)

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