Baillie Gifford & Co. Decreases Stake in The Howard Hughes Co. (NYSE:HHC)

Posted by on Apr 5th, 2023

Baillie Gifford & Co. cut its holdings in shares of The Howard Hughes Co. (NYSE:HHC – Get Rating) by 3.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,845,360 shares of the financial services provider’s stock after selling 90,337 shares during the quarter. Baillie Gifford & Co. owned about 0.06% of Howard Hughes worth $217,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Group Holdings Inc. increased its stake in Howard Hughes by 5.4% in the first quarter. Advisor Group Holdings Inc. now owns 2,711 shares of the financial services provider’s stock valued at $203,000 after acquiring an additional 139 shares during the last quarter. AMI Investment Management Inc. grew its position in Howard Hughes by 53.5% during the first quarter. AMI Investment Management Inc. now owns 29,180 shares of the financial services provider’s stock valued at $3,023,000 after acquiring an additional 10,169 shares during the last quarter. Raymond James & Associates grew its position in Howard Hughes by 2.1% during the first quarter. Raymond James & Associates now owns 17,359 shares of the financial services provider’s stock valued at $1,799,000 after acquiring an additional 362 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Howard Hughes by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 142,033 shares of the financial services provider’s stock valued at $14,716,000 after buying an additional 989 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Howard Hughes by 17.0% in the first quarter. American Century Companies Inc. now owns 5,632 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 818 shares during the last quarter.

Insider Activity

In related news, Director Pershing Square Capital Manage purchased 12,432 shares of Howard Hughes stock in a transaction that occurred on Thursday, March 23rd. The stock was purchased at an average price of $74.88 per share, for a total transaction of $930,908.16. Following the transaction, the director now directly owns 15,973,092 shares in the company, valued at $1,196,065,128.96. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Howard Hughes news, Director Pershing Square Capital Manage acquired 12,432 shares of the business’s stock in a transaction that occurred on Thursday, March 23rd. The stock was purchased at an average cost of $74.88 per share, with a total value of $930,908.16. Following the transaction, the director now owns 15,973,092 shares of the company’s stock, valued at $1,196,065,128.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas Johnstone sold 1,070 shares of Howard Hughes stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $78.82, for a total value of $84,337.40. Following the completion of the transaction, the insider now directly owns 9,843 shares of the company’s stock, valued at $775,825.26. The disclosure for this sale can be found here. Insiders own 26.90% of the company’s stock.

Howard Hughes Trading Down 2.9 %

HHC opened at $77.39 on Wednesday. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 20.80 and a beta of 1.46. The stock’s 50 day moving average price is $82.11 and its 200-day moving average price is $73.31. The Howard Hughes Co. has a one year low of $50.90 and a one year high of $105.38. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.78 and a current ratio of 1.78.

Howard Hughes (NYSE:HHC – Get Rating) last announced its earnings results on Monday, February 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.10. The business had revenue of $482.01 million for the quarter, compared to analysts’ expectations of $442.82 million. Howard Hughes had a return on equity of 5.21% and a net margin of 11.47%. During the same quarter last year, the firm earned $2.09 EPS. On average, equities analysts forecast that The Howard Hughes Co. will post -0.49 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BWS Financial reiterated a “buy” rating on shares of Howard Hughes in a report on Tuesday, January 17th. StockNews.com started coverage on Howard Hughes in a report on Friday, March 17th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Howard Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $86.67.

Howard Hughes Profile

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The Howard Hughes Corp. engages in the development and management of commercial, residential, and mixed-use real estate. It operates through the following segments: Operating Assets, Master Planned Communities, Seaport District, and Strategic Developments. The Operating Assets segment consists of retail, office, hospitality, and multi-family properties along with other real estate investments.

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Institutional Ownership by Quarter for Howard Hughes (NYSE:HHC)

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