Howard Hughes Holdings Inc. $HHH Shares Newly Acquired by Draper Asset Management LLC

Draper Asset Management LLC bought a new stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 60,303 shares of the company’s stock, valued at approximately $4,440,000. Howard Hughes makes up about 2.0% of Draper Asset Management LLC’s portfolio, making the stock its 12th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Howard Hughes in the second quarter valued at approximately $115,766,000. Donald Smith & CO. Inc. acquired a new position in shares of Howard Hughes during the 2nd quarter worth approximately $71,691,000. Flat Footed LLC purchased a new stake in Howard Hughes in the 2nd quarter valued at approximately $44,353,683. Bank of America Corp DE purchased a new stake in Howard Hughes in the 2nd quarter valued at approximately $21,031,000. Finally, Dimensional Fund Advisors LP grew its holdings in Howard Hughes by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,822,522 shares of the company’s stock valued at $178,549,000 after buying an additional 208,617 shares during the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Insider Transactions at Howard Hughes

In related news, COO Andrew D. Davis bought 1,000 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was purchased at an average cost of $64.49 per share, for a total transaction of $64,490.00. Following the completion of the acquisition, the chief operating officer owned 32,530 shares in the company, valued at $2,097,859.70. This trade represents a 3.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Tighe sold 13,495 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total transaction of $907,538.75. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 47.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Weiss Ratings raised Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Zacks Research raised shares of Howard Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.00.

Howard Hughes Trading Up 2.3%

HHH stock traded up $1.67 during midday trading on Friday, hitting $73.60. The stock had a trading volume of 436,180 shares, compared to its average volume of 495,633. The firm has a market cap of $4.40 billion, a PE ratio of 14.90 and a beta of 1.14. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.31 and a quick ratio of 2.31. Howard Hughes Holdings Inc. has a 12-month low of $60.09 and a 12-month high of $91.07. The company’s 50-day moving average price is $66.35 and its 200 day moving average price is $66.25.

Howard Hughes (NYSE:HHH) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $2.19. Howard Hughes had a return on equity of 7.51% and a net margin of 12.31%.The business had revenue of $1.12 billion for the quarter. During the same quarter last year, the business earned ($0.22) EPS. Howard Hughes’s revenue for the quarter was up 330.2% compared to the same quarter last year. On average, equities research analysts predict that Howard Hughes Holdings Inc. will post 4.75 earnings per share for the current fiscal year.

About Howard Hughes

Howard Hughes Holdings Inc (NYSE: HHH) is a real estate development and management company focused primarily on master planned communities and mixed-use properties. The company develops residential neighborhoods and supporting infrastructure while also owning and operating commercial, retail, office, multifamily, hospitality and entertainment assets.

Its portfolio includes master planned communities such as The Woodlands, Bridgeland and The Woodlands Hills in the Houston area; Summerlin in the Las Vegas region; Ward Village in Honolulu; and Teravalis in the Phoenix metropolitan area.