Mad River Investors cut its holdings in Howard Hughes Corp (NYSE:HHC) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,256 shares of the financial services provider’s stock after selling 621 shares during the period. Howard Hughes accounts for 8.2% of Mad River Investors’ portfolio, making the stock its 3rd largest holding. Mad River Investors owned 0.20% of Howard Hughes worth $10,591,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in HHC. Jennison Associates LLC raised its position in shares of Howard Hughes by 46.8% during the 2nd quarter. Jennison Associates LLC now owns 1,052,235 shares of the financial services provider’s stock valued at $139,421,000 after purchasing an additional 335,590 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Howard Hughes by 74.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 404,704 shares of the financial services provider’s stock valued at $50,273,000 after purchasing an additional 173,000 shares during the period. Renaissance Technologies LLC raised its position in shares of Howard Hughes by 6,013.6% during the 2nd quarter. Renaissance Technologies LLC now owns 134,500 shares of the financial services provider’s stock valued at $17,821,000 after purchasing an additional 132,300 shares during the period. Real Estate Management Services LLC bought a new stake in shares of Howard Hughes during the 2nd quarter valued at $17,119,000. Finally, St. James Investment Company LLC raised its position in shares of Howard Hughes by 69.8% during the 3rd quarter. St. James Investment Company LLC now owns 209,383 shares of the financial services provider’s stock valued at $26,010,000 after purchasing an additional 86,080 shares during the period. Institutional investors and hedge funds own 85.10% of the company’s stock.
In related news, Director Pershing Square Capital Manage sold 19,800 shares of the firm’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $126.59, for a total transaction of $2,506,482.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 91,098 shares of company stock valued at $11,479,411 over the last ninety days. 10.10% of the stock is currently owned by corporate insiders.
Several brokerages have recently commented on HHC. TheStreet downgraded shares of Howard Hughes from a “b-” rating to a “c+” rating in a research report on Tuesday, September 18th. Citigroup decreased their price objective on shares of Howard Hughes from $160.00 to $157.00 and set a “buy” rating on the stock in a research report on Monday, August 13th. Finally, Jefferies Financial Group restated a “$141.27” rating and set a $171.00 price objective on shares of Howard Hughes in a research report on Wednesday, July 18th. One analyst has rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Howard Hughes has an average rating of “Buy” and a consensus target price of $159.33.
HHC traded up $0.01 during trading on Friday, hitting $114.18. 4,355 shares of the company traded hands, compared to its average volume of 208,038. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 73.66 and a beta of 1.17. Howard Hughes Corp has a 1 year low of $104.83 and a 1 year high of $142.36. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.39 and a current ratio of 1.39.
Howard Hughes (NYSE:HHC) last posted its earnings results on Monday, August 6th. The financial services provider reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.34). The company had revenue of $181.00 million for 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 was down 41.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 earnings per share. On average, equities research analysts forecast that Howard Hughes Corp will post 1.65 earnings per share for the current 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.
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