Howard Hughes (NYSE:HHH) Releases Earnings Results

Howard Hughes (NYSE:HHH) posted its quarterly earnings data on Thursday. The company reported $1.57 earnings per share for the quarter, FiscalAI reports. Howard Hughes had a return on equity of 11.06% and a net margin of 14.95%.The company had revenue of $624.45 million during the quarter.

Howard Hughes Price Performance

HHH traded down $0.74 during midday trading on Thursday, hitting $82.29. 263,146 shares of the company traded hands, compared to its average volume of 335,760. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.80. The business has a 50 day simple moving average of $81.58 and a two-hundred day simple moving average of $80.79. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 16.04 and a beta of 1.24. Howard Hughes has a 52-week low of $61.40 and a 52-week high of $91.07.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HHH. Weiss Ratings reiterated a “hold (c)” rating on shares of Howard Hughes in a research note on Monday, December 29th. Wall Street Zen raised shares of Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Zacks Research downgraded shares of Howard Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.33.

Insider Buying and Selling

In related news, Director Mary Ann Tighe sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $88.83, for a total transaction of $532,980.00. Following the completion of the sale, the director directly owned 13,495 shares of the company’s stock, valued at approximately $1,198,760.85. This trade represents a 30.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R Scot Sellers acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was purchased at an average cost of $77.94 per share, with a total value of $389,700.00. Following the completion of the purchase, the director directly owned 67,517 shares of the company’s stock, valued at approximately $5,262,274.98. This represents a 8.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 48.00% of the company’s stock.

Hedge Funds Weigh In On Howard Hughes

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Howard Hughes by 1,183.2% in the 3rd quarter. SG Americas Securities LLC now owns 25,716 shares of the company’s stock valued at $2,113,000 after purchasing an additional 23,712 shares during the period. Brighton Jones LLC bought a new position in shares of Howard Hughes in the fourth quarter valued at $511,000. TrueMark Investments LLC bought a new stake in shares of Howard Hughes during the 3rd quarter worth about $1,318,000. Annex Advisory Services LLC acquired a new stake in shares of Howard Hughes in the third quarter valued at approximately $1,224,000. Finally, Legal & General Group Plc lifted its position in shares of Howard Hughes by 67.9% during the 2nd quarter. Legal & General Group Plc now owns 53,764 shares of the company’s stock worth $3,629,000 after buying an additional 21,750 shares during the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Howard Hughes Company Profile

Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.