Howard Hughes (NYSE:HHH) Sets New 52-Week Low – Here’s What Happened

Howard Hughes Holdings Inc. (NYSE:HHH)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $60.99 and last traded at $61.1260, with a volume of 149701 shares changing hands. The stock had previously closed at $61.55.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HHH. Weiss Ratings upgraded 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 company a “neutral” rating in a report on Thursday, July 16th. Finally, Zacks Research lowered Howard Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $79.00.

Howard Hughes Stock Performance

The company has a debt-to-equity ratio of 1.35, a current ratio of 2.31 and a quick ratio of 2.31. The firm has a fifty day moving average of $66.98 and a 200 day moving average of $66.19. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 12.45 and a beta of 1.14.

Howard Hughes (NYSE:HHH) last posted its earnings results on Wednesday, August 5th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $0.49 by $2.19. The firm had revenue of $1.12 billion during the quarter. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The firm’s revenue for the quarter was up 330.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.22) EPS. As a group, sell-side analysts forecast that Howard Hughes Holdings Inc. will post 2.77 EPS for the current year.

Insider Transactions at Howard Hughes

In other Howard Hughes news, Director Mary Tighe sold 13,495 shares of the business’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 value of $907,538.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 47.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. &PARTNERS boosted its holdings in Howard Hughes by 3.9% in the fourth quarter. &PARTNERS now owns 5,407 shares of the company’s stock worth $431,000 after purchasing an additional 204 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Howard Hughes by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 30,098 shares of the company’s stock worth $2,032,000 after acquiring an additional 217 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Howard Hughes by 7.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,409 shares of the company’s stock valued at $244,000 after acquiring an additional 226 shares during the last quarter. Allworth Financial LP lifted its holdings in Howard Hughes by 56.1% in the 4th quarter. Allworth Financial LP now owns 662 shares of the company’s stock worth $53,000 after purchasing an additional 238 shares during the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Howard Hughes by 3.6% during the second quarter. Baird Financial Group Inc. now owns 7,771 shares of the company’s stock valued at $556,000 after purchasing an additional 272 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.

About Howard Hughes

Howard Hughes Holdings Inc is a real estate development and management company that creates and operates large-scale master planned communities, mixed-use properties and strategic real estate developments. Its activities include land development, homebuilder lot sales, commercial and multifamily development, retail operations and the management of community amenities and infrastructure.

The company’s master planned communities include Summerlin in the Las Vegas area, The Woodlands and Bridgeland in the Houston area, The Woodlands Hills in Texas, Teravalis in the Phoenix area and Ward Village in Honolulu.