VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 34,710 shares of the company’s stock, valued at approximately $2,481,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.06% of Howard Hughes at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC purchased a new stake in Howard Hughes during the 4th quarter worth approximately $511,000. JCP Investment Management LLC raised its position in shares of Howard Hughes by 29.3% in the 1st quarter. JCP Investment Management LLC now owns 234,100 shares of the company’s stock valued at $14,809,000 after purchasing an additional 53,000 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Howard Hughes by 14.8% during the 1st quarter. Bank of America Corp DE now owns 304,520 shares of the company’s stock valued at $19,264,000 after buying an additional 39,246 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Howard Hughes during the second quarter worth approximately $1,208,000. Finally, Flat Footed LLC acquired a new stake in shares of Howard Hughes during the second quarter worth approximately $44,353,683. 93.83% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages recently issued reports on HHH. Weiss Ratings upgraded shares of Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Zacks Research lowered shares of Howard Hughes from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $79.00.
Insider Activity
In other news, Director Mary 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 value of $907,538.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 47.70% of the company’s stock.
Howard Hughes Stock Performance
HHH stock opened at $61.58 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.35. The firm has a market cap of $3.68 billion, a P/E ratio of 12.46 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 stock’s 50 day simple moving average is $67.23 and its 200 day simple moving average is $66.27.
Howard Hughes (NYSE:HHH – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $2.19. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The firm had revenue of $1.12 billion during the quarter. During the same period in the prior year, the firm earned ($0.22) EPS. The business’s revenue for the quarter was up 330.2% compared to the same quarter last year. As a group, equities research analysts predict that Howard Hughes Holdings Inc. will post 2.77 EPS for the current year.
Howard Hughes Company Profile
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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