Oppenheimer & Co. Inc. lessened its holdings in shares of Howard Hughes Co. (NYSE:HHC) by 24.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,634 shares of the financial services provider’s stock after selling 875 shares during the period. Oppenheimer & Co. Inc.’s holdings in Howard Hughes were worth $366,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of Howard Hughes by 4.9% during the first quarter. Rhumbline Advisers now owns 34,286 shares of the financial services provider’s stock worth $4,770,000 after purchasing an additional 1,593 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Howard Hughes by 16.2% during the first quarter. Wells Fargo & Company MN now owns 85,676 shares of the financial services provider’s stock worth $11,920,000 after purchasing an additional 11,922 shares during the last quarter. FDx Advisors Inc. bought a new stake in shares of Howard Hughes during the first quarter worth $398,000. Xact Kapitalforvaltning AB bought a new stake in shares of Howard Hughes during the fourth quarter worth $401,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in shares of Howard Hughes during the fourth quarter worth $1,752,000. Institutional investors own 84.45% of the company’s stock.
HHC has been the topic of several research analyst reports. TheStreet upgraded Howard Hughes from a “c” rating to a “b-” rating in a report on Wednesday, March 28th. Sandler O’Neill set a $140.00 target price on Howard Hughes and gave the stock a “hold” rating in a report on Thursday, March 8th. Finally, Zacks Investment Research upgraded Howard Hughes from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. Howard Hughes currently has an average rating of “Hold” and a consensus target price of $145.00.
In related news, EVP Sarah M. Vasquez sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $134.80, for a total value of $1,011,000.00. Following the transaction, the executive vice president now owns 11,582 shares in the company, valued at $1,561,253.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 416,945 shares of company stock worth $57,689,910. 10.10% of the stock is owned by company insiders.
Howard Hughes stock opened at $129.25 on Thursday. The stock has a market capitalization of $5.58 billion, a P/E ratio of 83.39 and a beta of 1.15. Howard Hughes Co. has a 12-month low of $129.05 and a 12-month high of $130.24. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.94.
Howard Hughes (NYSE:HHC) last posted its quarterly earnings results on Tuesday, May 1st. The financial services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.46). The firm had revenue of $161.68 million during the quarter, compared to the consensus estimate of $266.77 million. Howard Hughes had a net margin of 15.94% and a return on equity of 2.29%. Howard Hughes’s revenue was down 30.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 EPS. equities analysts predict that Howard Hughes Co. will post -0.37 earnings per share for the current fiscal year.
Howard Hughes Profile
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.
Want to see what other hedge funds are holding HHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Howard Hughes Co. (NYSE:HHC).
Receive News & Ratings for Howard Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Howard Hughes and related companies with MarketBeat.com's FREE daily email newsletter.