Key Points
- Howard Hughes director Mary Ann Tighe sold 13,495 shares at an average price of $67.25, for total proceeds of approximately $907,539.
- Shares opened at $67.75, up 1.5%, while the company reported quarterly EPS of $2.68—beating estimates by $2.19—and revenue of $1.12 billion, up 330.2% year over year.
- Institutional investors own 93.83% of the stock, but analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $79.
Howard Hughes Holdings Inc. (NYSE:HHH - Get Free Report) Director Mary Ann Tighe sold 13,495 shares of Howard Hughes stock in a transaction on Tuesday, August 11th. The stock was 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 accessible through this hyperlink.
Howard Hughes Trading Up 1.5%
HHH opened at $67.75 on Friday. Howard Hughes Holdings Inc. has a 12-month low of $61.01 and a 12-month high of $91.07. 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 stock has a market capitalization of $4.04 billion, a PE ratio of 13.71 and a beta of 1.14. The firm's fifty day moving average price is $68.57 and its 200 day moving average price is $68.58.
Howard Hughes (NYSE:HHH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $0.49 by $2.19. The company had revenue of $1.12 billion during the quarter. Howard Hughes had a net margin of 12.31% and a return on equity of 9.91%. Howard Hughes's revenue was up 330.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.22) earnings per share. As a group, research analysts expect that Howard Hughes Holdings Inc. will post 2.77 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Howard Hughes by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,822,522 shares of the company's stock valued at $178,549,000 after buying an additional 208,617 shares during the period. BlackRock Inc. bought a new stake in shares of Howard Hughes during the 2nd quarter valued at about $115,766,000. Donald Smith & CO. Inc. acquired a new stake in Howard Hughes during the second quarter worth about $71,691,000. Crcm LP raised its stake in Howard Hughes by 9.3% during the fourth quarter. Crcm LP now owns 612,839 shares of the company's stock worth $48,886,000 after acquiring an additional 52,126 shares during the period. Finally, Norges Bank bought a new position in Howard Hughes in the fourth quarter worth about $31,957,000. 93.83% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
HHH has been the subject of a number of research reports. Wall Street Zen upgraded Howard Hughes from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings raised Howard Hughes from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on Howard Hughes from $76.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Finally, Zacks Research downgraded Howard Hughes from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 21st. Two 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 company currently has a consensus rating of "Reduce" and an average price target of $79.00.
Read Our Latest Report on HHH
About Howard Hughes
(
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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