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

Howard Hughes Holdings Inc. (NYSE:HHH) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $60.09 and last traded at $61.7560, with a volume of 1352612 shares. The stock had previously closed at $60.22.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HHH. Zacks Research upgraded Howard Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Weiss Ratings upgraded Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their target price on Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.00.

Howard Hughes Price Performance

The firm has a 50-day simple moving average of $65.58 and a two-hundred day simple moving average of $65.72. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 13.37 and a beta of 1.14. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.35.

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

Insider Buying and Selling

In other news, Director Mary Tighe sold 13,495 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $67.25, for a total transaction of $907,538.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 47.70% of the company’s stock.

Institutional Trading of Howard Hughes

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Howard Hughes by 8.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,822,522 shares of the company’s stock worth $178,549,000 after purchasing an additional 208,617 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Howard Hughes in the second quarter valued at approximately $115,766,000. Donald Smith & CO. Inc. purchased a new stake in shares of Howard Hughes in the second quarter valued at approximately $71,691,000. Flat Footed LLC acquired a new position in shares of Howard Hughes during the 2nd quarter worth approximately $44,353,683. Finally, Crcm LP raised its stake in shares of Howard Hughes by 9.3% during the 4th quarter. Crcm LP now owns 612,839 shares of the company’s stock worth $48,886,000 after buying an additional 52,126 shares during the period. 93.83% of the stock is owned by hedge funds and other institutional investors.

Howard Hughes Company Profile

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.