Alliancebernstein L.P. Has $1.29 Million Stock Holdings in Howard Hughes Corp (NYSE:HHC)

Alliancebernstein L.P. raised its position in Howard Hughes Corp (NYSE:HHC) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,487 shares of the financial services provider’s stock after buying an additional 1,020 shares during the quarter. Alliancebernstein L.P.’s holdings in Howard Hughes were worth $1,288,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its position in shares of Howard Hughes by 108.6% during the 1st quarter. Baillie Gifford & Co. now owns 3,356,603 shares of the financial services provider’s stock worth $169,576,000 after buying an additional 1,747,545 shares during the last quarter. Principal Financial Group Inc. grew its stake in Howard Hughes by 11.7% during the first quarter. Principal Financial Group Inc. now owns 2,570,582 shares of the financial services provider’s stock worth $129,866,000 after purchasing an additional 268,827 shares during the period. BlackRock Inc. grew its stake in Howard Hughes by 18.3% during the first quarter. BlackRock Inc. now owns 2,404,218 shares of the financial services provider’s stock worth $121,460,000 after purchasing an additional 371,793 shares during the period. New South Capital Management Inc. grew its stake in Howard Hughes by 24.7% during the fourth quarter. New South Capital Management Inc. now owns 1,311,189 shares of the financial services provider’s stock worth $166,259,000 after purchasing an additional 259,434 shares during the period. Finally, Parnassus Investments CA grew its stake in Howard Hughes by 13.2% during the fourth quarter. Parnassus Investments CA now owns 909,527 shares of the financial services provider’s stock worth $115,328,000 after purchasing an additional 106,187 shares during the period. Hedge funds and other institutional investors own 90.65% of the company’s stock.

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

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 stock was sold at an average price of $58.66, for a total value of $102,600,563.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 35.70% of the stock is owned by company insiders.

HHC stock opened at $52.66 on Wednesday. Howard Hughes Corp has a twelve month low of $35.10 and a twelve month high of $135.42. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.16. The stock’s 50 day moving average is $53.04 and its 200-day moving average is $84.33. The firm has a market capitalization of $2.77 billion, a PE ratio of -27.57 and a beta of 1.61.

Howard Hughes (NYSE:HHC) last posted its earnings results on Monday, May 11th. The financial services provider reported ($2.88) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($2.66). Howard Hughes had a negative net margin of 7.40% and a negative return on equity of 0.99%. The company had revenue of $175.20 million during the quarter, compared to the consensus estimate of $236.14 million. During the same quarter in the prior year, the business earned $0.74 EPS. The firm’s revenue for the quarter was down 50.4% compared to the same quarter last year. On average, equities research analysts anticipate that Howard Hughes Corp will post -6.58 earnings per share for the current fiscal year.

Howard Hughes Company 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.

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

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