Key Points
- Howard Hughes insider James Carman sold 1,500 shares on May 15 at an average price of $64.20, totaling $96,300. After the sale, he still held 22,096 shares, a 6.36% decrease in ownership.
- The company recently reported better-than-expected quarterly results, with EPS of $0.14 versus the $0.08 consensus estimate and revenue of $235.92 million, up 18.4% year over year.
- Analysts remain cautious on HHH, with a consensus rating of “Reduce” and an average price target of $85.00, even as institutional ownership stays high at 93.83%.
Howard Hughes Holdings Inc. (NYSE:HHH - Get Free Report) insider James Carman sold 1,500 shares of Howard Hughes stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $64.20, for a total value of $96,300.00. Following the completion of the sale, the insider directly owned 22,096 shares in the company, valued at $1,418,563.20. This represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Howard Hughes Stock Performance
Shares of NYSE:HHH opened at $63.50 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.58 and a quick ratio of 1.58. The business's 50 day moving average price is $64.03 and its 200-day moving average price is $75.41. The firm has a market capitalization of $3.79 billion, a PE ratio of 31.13 and a beta of 1.15. Howard Hughes Holdings Inc. has a 1 year low of $61.01 and a 1 year high of $91.07.
Howard Hughes (NYSE:HHH - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. The firm had revenue of $235.92 million for the quarter. Howard Hughes had a return on equity of 5.41% and a net margin of 8.04%.The business's revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, equities research analysts expect that Howard Hughes Holdings Inc. will post 3.01 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Howard Hughes
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HHH. Brighton Jones LLC purchased a new stake in Howard Hughes in the fourth quarter valued at $511,000. Royal Bank of Canada raised its position in Howard Hughes by 1,900.6% in the first quarter. Royal Bank of Canada now owns 99,248 shares of the company's stock valued at $7,353,000 after purchasing an additional 94,287 shares during the period. Millennium Management LLC raised its position in Howard Hughes by 2,368.8% in the first quarter. Millennium Management LLC now owns 165,926 shares of the company's stock valued at $12,292,000 after purchasing an additional 159,205 shares during the period. Goldman Sachs Group Inc. raised its position in Howard Hughes by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 118,589 shares of the company's stock valued at $8,785,000 after purchasing an additional 25,001 shares during the period. Finally, Focus Partners Wealth purchased a new stake in Howard Hughes in the first quarter valued at $254,000. Hedge funds and other institutional investors own 93.83% of the company's stock.
Analyst Upgrades and Downgrades
HHH has been the topic of a number of analyst reports. Wall Street Zen upgraded Howard Hughes from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Howard Hughes from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 6th. Finally, Zacks Research downgraded Howard Hughes from a "hold" rating to a "strong sell" rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $85.00.
Check Out Our Latest Stock Report on Howard Hughes
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.
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