Grand Jean Capital Management Inc. Raises Position in Howard Hughes Corp (NYSE:HHC)

Grand Jean Capital Management Inc. grew its position in Howard Hughes Corp (NYSE:HHC) by 50.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 40,150 shares of the financial services provider’s stock after buying an additional 13,483 shares during the period. Howard Hughes makes up about 2.0% of Grand Jean Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding. Grand Jean Capital Management Inc. owned about 0.09% of Howard Hughes worth $4,972,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. AdvisorNet Financial Inc grew its stake in shares of Howard Hughes by 75.0% in the second quarter. AdvisorNet Financial Inc now owns 350 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 150 shares during the period. Sandy Spring Bank bought a new stake in shares of Howard Hughes in the second quarter worth approximately $49,000. Glassman Wealth Services grew its stake in shares of Howard Hughes by 102.8% in the second quarter. Glassman Wealth Services now owns 509 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 258 shares during the period. Bartlett & Co. LLC bought a new stake in shares of Howard Hughes in the second quarter worth approximately $66,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Howard Hughes in the second quarter worth approximately $67,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Shares of HHC stock traded up $0.14 during trading hours on Friday, reaching $132.87. The company had a trading volume of 641 shares, compared to its average volume of 184,714. The business has a fifty day moving average price of $129.34 and a 200-day moving average price of $116.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market cap of $5.60 billion, a PE ratio of 100.58 and a beta of 1.32. Howard Hughes Corp has a one year low of $89.51 and a one year high of $135.42.

Howard Hughes (NYSE:HHC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $431.32 million during the quarter, compared to analyst estimates of $397.43 million. Howard Hughes had a net margin of 7.03% and a return on equity of 3.24%. The firm’s quarterly revenue was up 138.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) earnings per share. Equities research analysts forecast that Howard Hughes Corp will post 0.45 EPS for the current year.

A number of analysts have recently commented on the stock. TheStreet lowered shares of Howard Hughes from a “b-” rating to a “c” rating in a research note on Wednesday, May 29th. Zacks Investment Research lowered shares of Howard Hughes from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 15th.

Howard Hughes Profile

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.

Read More: Understanding the Price to Earnings Ratio (PE)

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

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