Tower Research Capital LLC TRC Buys New Holdings in Howard Hughes Corp (NYSE:HHC)

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Tower Research Capital LLC TRC bought a new stake in Howard Hughes Corp (NYSE:HHC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,559 shares of the financial services provider’s stock, valued at approximately $78,000.

A number of other large investors have also recently modified their holdings of HHC. First Trust Advisors LP raised its holdings in Howard Hughes by 22.7% in the first quarter. First Trust Advisors LP now owns 45,386 shares of the financial services provider’s stock valued at $4,992,000 after acquiring an additional 8,409 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Howard Hughes by 10.6% in the fourth quarter. Victory Capital Management Inc. now owns 20,626 shares of the financial services provider’s stock valued at $2,615,000 after acquiring an additional 1,983 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Howard Hughes in the fourth quarter valued at approximately $259,000. Envestnet Asset Management Inc. raised its holdings in Howard Hughes by 4.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 15,122 shares of the financial services provider’s stock worth $1,917,000 after purchasing an additional 697 shares in the last quarter. Finally, Motley Fool Asset Management LLC acquired a new stake in Howard Hughes during the fourth quarter worth approximately $1,192,000. 90.65% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Pershing Square Capital Manage sold 1,749,072 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $58.66, for a total transaction of $102,600,563.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 35.70% of the company’s stock.

Shares of HHC opened at $52.66 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.91 and a current ratio of 1.91. The company’s 50 day simple moving average is $53.04 and its 200-day simple moving average is $84.33. Howard Hughes Corp has a 12-month low of $35.10 and a 12-month high of $135.42.

Howard Hughes (NYSE:HHC) last announced its earnings results on Monday, May 11th. The financial services provider reported ($2.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($2.66). The business had revenue of $175.20 million for the quarter, compared to analysts’ expectations of $236.14 million. Howard Hughes had a negative return on equity of 0.99% and a negative net margin of 7.40%. The business’s revenue was down 50.4% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. As a group, analysts expect that Howard Hughes Corp will post -6.58 earnings per share for the current year.

A number of analysts have weighed in on HHC shares. Zacks Investment Research cut shares of Howard Hughes from a “hold” rating to a “sell” rating in a report on Wednesday, June 3rd. TheStreet cut shares of Howard Hughes from a “c-” rating to a “d” rating in a report on Monday, May 18th. Piper Sandler raised their price objective on shares of Howard Hughes from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Finally, BWS Financial reissued a “buy” rating and set a $80.00 price objective on shares of Howard Hughes in a report on Monday, June 8th.

About Howard Hughes

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through three segments: Operating Assets, Master Planned Communities, and Strategic Developments. The Operating Assets segment owns 15 retail, 28 office, 8 multi-family, and 4 hospitality properties, as well as 10 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, Hawai’i.

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Institutional Ownership by Quarter for Howard Hughes (NYSE:HHC)

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