Howard Hughes (NYSE:HHH) Stock Price Up 9.3% – Here’s What Happened

Howard Hughes Holdings Inc. (NYSE:HHH) shot up 9.3% on Monday . The company traded as high as $87.29 and last traded at $87.5350. 202,548 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 433,177 shares. The stock had previously closed at $80.09.

Analyst Ratings Changes

A number of research firms recently issued reports on HHH. Weiss Ratings reissued a “hold (c-)” rating on shares of Howard Hughes in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Howard Hughes from $76.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Wall Street Zen downgraded Howard Hughes from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Zacks Research lowered shares of Howard Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.33.

Howard Hughes Stock Up 11.5%

The stock has a market cap of $5.30 billion, a P/E ratio of 19.54 and a beta of 1.26. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.85. The firm’s fifty day moving average is $80.46 and its 200 day moving average is $73.59.

Insider Buying and Selling at Howard Hughes

In related news, Director Anthony Williams sold 1,100 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $79.58, for a total transaction of $87,538.00. Following the completion of the transaction, the director owned 8,102 shares of the company’s stock, valued at approximately $644,757.16. The trade was a 11.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 48.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HHH. Dimensional Fund Advisors LP boosted its position in shares of Howard Hughes by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,495,852 shares of the company’s stock valued at $184,894,000 after acquiring an additional 10,405 shares during the period. Egerton Capital UK LLP boosted its holdings in Howard Hughes by 169.5% in the 1st quarter. Egerton Capital UK LLP now owns 1,196,288 shares of the company’s stock valued at $88,621,000 after purchasing an additional 752,325 shares during the period. American Century Companies Inc. grew its position in Howard Hughes by 24.8% in the 1st quarter. American Century Companies Inc. now owns 779,879 shares of the company’s stock worth $57,773,000 after purchasing an additional 155,110 shares during the last quarter. Geode Capital Management LLC grew its position in Howard Hughes by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 567,967 shares of the company’s stock worth $38,343,000 after purchasing an additional 2,427 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Howard Hughes during the 2nd quarter worth about $25,951,000. 93.83% of the stock is owned by institutional investors.

About Howard Hughes

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.