OP Asset Management Ltd Acquires Shares of 35,247 Howard Hughes Holdings Inc. $HHH

OP Asset Management Ltd acquired a new position in Howard Hughes Holdings Inc. (NYSE:HHH) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,247 shares of the company’s stock, valued at approximately $2,230,000. OP Asset Management Ltd owned approximately 0.06% of Howard Hughes as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Howard Hughes by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,613,905 shares of the company’s stock valued at $208,513,000 after buying an additional 116,873 shares during the last quarter. American Century Companies Inc. increased its position in Howard Hughes by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 747,495 shares of the company’s stock valued at $61,422,000 after acquiring an additional 2,595 shares in the last quarter. Crcm LP increased its position in Howard Hughes by 9.3% in the 4th quarter. Crcm LP now owns 612,839 shares of the company’s stock valued at $48,886,000 after acquiring an additional 52,126 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Howard Hughes by 98.3% in the third quarter. Russell Investments Group Ltd. now owns 556,860 shares of the company’s stock worth $45,757,000 after acquiring an additional 276,083 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Howard Hughes in the fourth quarter worth about $31,957,000. Institutional investors own 93.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HHH. Zacks Research upgraded shares of Howard Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Wall Street Zen upgraded Howard Hughes from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings cut Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $85.00.

Howard Hughes Trading Up 3.3%

HHH opened at $72.27 on Friday. The stock has a market capitalization of $4.31 billion, a P/E ratio of 35.42 and a beta of 1.14. The firm’s fifty day simple moving average is $65.17 and its 200 day simple moving average is $71.67. Howard Hughes Holdings Inc. has a 12 month low of $61.01 and a 12 month high of $91.07. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.97.

Howard Hughes (NYSE:HHH) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. The company had revenue of $235.92 million for the quarter. Howard Hughes had a net margin of 8.04% and a return on equity of 5.41%. Howard Hughes’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the business earned $0.21 earnings per share. As a group, research analysts anticipate that Howard Hughes Holdings Inc. will post 3.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider James Carman sold 1,500 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $64.20, for a total value of $96,300.00. Following the completion of the transaction, the insider owned 22,096 shares of the company’s stock, valued at approximately $1,418,563.20. This trade represents a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 48.00% of the company’s stock.

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. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.