David Weinreb Sells 400,000 Shares of Howard Hughes Co. (HHC) Stock

Howard Hughes Co. (NYSE:HHC) CEO David Weinreb sold 400,000 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $138.46, for a total value of $55,384,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of Howard Hughes stock opened at $136.60 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $6,024.60, a price-to-earnings ratio of 88.13 and a beta of 1.17. Howard Hughes Co. has a one year low of $114.28 and a one year high of $140.38.

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Howard Hughes (NYSE:HHC) last announced its quarterly earnings results on Monday, February 26th. The financial services provider reported $3.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $3.19. The business had revenue of $300.98 million for the quarter, compared to analysts’ expectations of $239.83 million. Howard Hughes had a return on equity of 2.52% and a net margin of 15.31%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. equities analysts expect that Howard Hughes Co. will post 1.1 EPS for the current fiscal year.

HHC has been the topic of a number of research reports. Zacks Investment Research raised Howard Hughes from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 10th. Sandler O’Neill set a $140.00 price objective on Howard Hughes and gave the company a “hold” rating in a report on Thursday, March 8th. Finally, TheStreet raised Howard Hughes from a “c” rating to a “b-” rating in a report on Wednesday, March 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. Howard Hughes currently has an average rating of “Hold” and an average target price of $145.00.

Institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in Howard Hughes by 65.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,011 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 401 shares during the period. Assetmark Inc. increased its stake in Howard Hughes by 467.0% in the 4th quarter. Assetmark Inc. now owns 1,100 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 906 shares during the period. The Manufacturers Life Insurance Company increased its stake in Howard Hughes by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,212 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 81 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Howard Hughes by 79.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,159 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 514 shares during the period. Finally, Stifel Financial Corp purchased a new position in Howard Hughes in the 3rd quarter worth approximately $202,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

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About Howard Hughes

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.

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