Key Points
- R. Scot Sellers, a director at Howard Hughes, bought 5,000 shares on Dec. 23 at an average price of $77.94 for a total of $389,700, increasing his stake to 67,517 shares (an 8% rise), according to an SEC filing.
- Howard Hughes reported strong results on Nov. 10 with $2.02 EPS (beating estimates by $0.46) and revenue of $390.24M (up 19.3% year-over-year); analysts' consensus rating is Hold with an average target of $83.33.
- The stock trades near $79, with a market cap of $4.71B and a P/E of 15.46, and about 93.83% of shares are held by hedge funds and other institutional investors.
Howard Hughes Holdings Inc. (NYSE:HHH - Get Free Report) Director R Scot Sellers bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 23rd. The stock was purchased at an average cost of $77.94 per share, with a total value of $389,700.00. Following the completion of the transaction, the director directly owned 67,517 shares in the company, valued at $5,262,274.98. This represents a 8.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Howard Hughes Stock Up 0.5%
Shares of NYSE:HHH opened at $79.33 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.18 and a current ratio of 1.18. Howard Hughes Holdings Inc. has a 52-week low of $61.40 and a 52-week high of $91.07. The business's 50 day simple moving average is $83.30 and its two-hundred day simple moving average is $77.59. The firm has a market cap of $4.71 billion, a P/E ratio of 15.46 and a beta of 1.22.
Howard Hughes (NYSE:HHH - Get Free Report) last issued its earnings results on Monday, November 10th. The company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.56 by $0.46. Howard Hughes had a return on equity of 11.06% and a net margin of 14.95%.The company had revenue of $390.24 million for the quarter, compared to analyst estimates of $331.52 million. During the same period in the prior year, the firm earned $1.95 earnings per share. Howard Hughes's revenue for the quarter was up 19.3% on a year-over-year basis. As a group, research analysts forecast that Howard Hughes Holdings Inc. will post 3.7 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms recently weighed in on HHH. Wall Street Zen upgraded shares of Howard Hughes from a "sell" rating to a "hold" rating in a report on Saturday, November 15th. Zacks Research lowered Howard Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Howard Hughes in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $83.33.
Get Our Latest Analysis on HHH
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new stake in Howard Hughes in the 3rd quarter valued at about $268,000. CIBC Bancorp USA Inc. purchased a new position in shares of Howard Hughes in the 3rd quarter worth approximately $291,000. GM Advisory Group LLC bought a new position in shares of Howard Hughes in the third quarter valued at approximately $251,000. Advisory Services Network LLC purchased a new stake in shares of Howard Hughes during the third quarter valued at approximately $114,000. Finally, Caxton Associates LLP bought a new stake in Howard Hughes during the third quarter worth $1,655,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.
Howard Hughes Company Profile
(
Get 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.
Further Reading
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