SeaBridge Investment Advisors LLC lowered its position in shares of Howard Hughes Corp (NYSE:HHC) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,358 shares of the financial services provider’s stock after selling 4,713 shares during the quarter. Howard Hughes accounts for 2.0% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 7th largest holding. SeaBridge Investment Advisors LLC owned 0.14% of Howard Hughes worth $7,746,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in Howard Hughes by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 20,099 shares of the financial services provider’s stock worth $2,663,000 after buying an additional 402 shares during the last quarter. Amalgamated Bank raised its position in Howard Hughes by 6.2% during the 1st quarter. Amalgamated Bank now owns 6,941 shares of the financial services provider’s stock worth $966,000 after buying an additional 405 shares during the last quarter. Brown Advisory Inc. raised its position in Howard Hughes by 8.4% during the 1st quarter. Brown Advisory Inc. now owns 7,006 shares of the financial services provider’s stock worth $975,000 after buying an additional 544 shares during the last quarter. Norman Fields Gottscho Capital Management LLC raised its position in Howard Hughes by 2.6% during the 2nd quarter. Norman Fields Gottscho Capital Management LLC now owns 24,085 shares of the financial services provider’s stock worth $3,191,000 after buying an additional 605 shares during the last quarter. Finally, Sei Investments Co. raised its position in Howard Hughes by 12.3% during the 2nd quarter. Sei Investments Co. now owns 5,642 shares of the financial services provider’s stock worth $748,000 after buying an additional 618 shares during the last quarter. Institutional investors own 84.52% of the company’s stock.
Shares of HHC traded up $0.30 during trading hours on Friday, reaching $113.64. The company had a trading volume of 4,759 shares, compared to its average volume of 207,135. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $5.03 billion, a PE ratio of 73.37 and a beta of 1.17. Howard Hughes Corp has a 12-month low of $113.27 and a 12-month high of $142.36.
Howard Hughes (NYSE:HHC) last announced its quarterly earnings results on Monday, August 6th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.34). The company had revenue of $181.00 million during the quarter, compared to analysts’ expectations of $165.87 million. Howard Hughes had a net margin of 17.29% and a return on equity of 1.99%. The business’s revenue for the quarter was down 41.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. On average, research analysts anticipate that Howard Hughes Corp will post 1.65 EPS for the current year.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Howard Hughes from a “sell” rating to a “hold” rating in a research report on Wednesday, July 4th. Citigroup restated a “buy” rating and set a $160.00 price objective on shares of Howard Hughes in a research report on Wednesday, June 27th. Jefferies Financial Group assumed coverage on shares of Howard Hughes in a research report on Monday, July 2nd. They set a “buy” rating and a $170.00 price objective for the company. Finally, TheStreet downgraded shares of Howard Hughes from a “b-” rating to a “c+” rating in a research report on Tuesday, September 18th. One analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $159.33.
In other news, Director Pershing Square Capital Manage sold 13,685 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $125.09, for a total value of $1,711,856.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 91,098 shares of company stock valued at $11,479,411 in the last quarter. Insiders own 10.10% of the company’s stock.
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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