Analysts at StockNews.com began coverage on shares of Howard Hughes (NYSE:HHC – Get Free Report) in a research note issued on Sunday. The brokerage set a “sell” rating on the financial services provider’s stock.
Separately, Piper Sandler dropped their price target on shares of Howard Hughes from $100.00 to $95.00 in a research note on Wednesday, May 31st.
View Our Latest Stock Report on HHC
Howard Hughes Trading Up 0.2 %
Howard Hughes (NYSE:HHC – Get Free Report) last posted its earnings results on Tuesday, August 8th. The financial services provider reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.18). Howard Hughes had a return on equity of 3.33% and a net margin of 7.72%. The business had revenue of $223.32 million for the quarter, compared to the consensus estimate of $217.65 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Analysts predict that Howard Hughes will post -1.2 EPS for the current fiscal year.
Insider Buying and Selling at Howard Hughes
In other news, Director Pershing Square Capital Manage purchased 15,609 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was acquired at an average price of $74.71 per share, with a total value of $1,166,148.39. Following the transaction, the director now directly owns 16,489,284 shares of the company’s stock, valued at approximately $1,231,914,407.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 83,321 shares of company stock valued at $6,230,177 in the last quarter. Company insiders own 33.00% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of HHC. Pershing Square Capital Management L.P. boosted its holdings in shares of Howard Hughes by 16.7% during the 4th quarter. Pershing Square Capital Management L.P. now owns 15,895,135 shares of the financial services provider’s stock valued at $1,214,706,000 after acquiring an additional 2,274,971 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Howard Hughes by 29.9% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,248,961 shares of the financial services provider’s stock valued at $179,917,000 after buying an additional 517,889 shares during the last quarter. Norges Bank bought a new stake in shares of Howard Hughes during the fourth quarter valued at approximately $27,698,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Howard Hughes during the second quarter valued at approximately $17,563,000. Finally, Jennison Associates LLC increased its position in Howard Hughes by 71.8% in the fourth quarter. Jennison Associates LLC now owns 498,440 shares of the financial services provider’s stock worth $38,091,000 after purchasing an additional 208,330 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.
About Howard Hughes
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use properties in the United States. It operates through four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment owns retail, office, multi-family, hospitality, and other operating properties and investments primarily located in Houston, Texas; Columbia, Maryland; Las Vegas, Nevada; and Honolulu, Hawaii.
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