Howard Hughes (NYSE:HHH) Shares Gap Up – Still a Buy?

Shares of Howard Hughes Holdings Inc. (NYSE:HHH) gapped up prior to trading on Monday . The stock had previously closed at $67.47, but opened at $71.22. Howard Hughes shares last traded at $70.34, with a volume of 726,237 shares.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their price objective on shares of Howard Hughes from $84.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th.

Howard Hughes Price Performance

The company has a 50 day moving average price of $70.81 and a 200-day moving average price of $75.75. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 45.41 and a beta of 1.21. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.98.

Howard Hughes (NYSE:HHH) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.40. Howard Hughes had a net margin of 6.57% and a return on equity of 3.38%. The company had revenue of $983.59 million for the quarter, compared to analyst estimates of $949.18 million. As a group, equities research analysts predict that Howard Hughes Holdings Inc. will post 3.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. boosted its position in Howard Hughes by 0.3% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 53,135 shares of the company’s stock valued at $4,114,000 after acquiring an additional 144 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Howard Hughes by 1.2% during the 1st quarter. Proficio Capital Partners LLC now owns 14,744 shares of the company’s stock valued at $1,089,000 after purchasing an additional 170 shares in the last quarter. Wells Fargo & Company MN grew its stake in Howard Hughes by 1.6% during the fourth quarter. Wells Fargo & Company MN now owns 10,707 shares of the company’s stock worth $824,000 after purchasing an additional 173 shares during the period. Stifel Financial Corp increased its holdings in Howard Hughes by 4.2% in the fourth quarter. Stifel Financial Corp now owns 5,743 shares of the company’s stock worth $442,000 after purchasing an additional 234 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Howard Hughes by 6.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,963 shares of the company’s stock valued at $305,000 after buying an additional 250 shares during the period. Institutional investors own 93.83% of the company’s stock.

Howard Hughes Company Profile

Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments.