Howard Hughes Corp (HHC) President Purchases $499,912.30 in Stock
Howard Hughes Corp (NYSE:HHC) President Grant Herlitz bought 4,570 shares of Howard Hughes stock in a transaction dated Friday, November 9th. The stock was purchased at an average price of $109.39 per share, for a total transaction of $499,912.30. Following the purchase, the president now directly owns 154,503 shares in the company, valued at approximately $16,901,083.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of HHC traded down $0.48 on Tuesday, hitting $109.00. The company’s stock had a trading volume of 336,800 shares, compared to its average volume of 248,402. The company has a market capitalization of $4.77 billion, a P/E ratio of 70.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.28 and a quick ratio of 1.28. Howard Hughes Corp has a fifty-two week low of $104.83 and a fifty-two week high of $142.36.
Howard Hughes (NYSE:HHC) last announced its earnings results on Monday, November 5th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.08). The business had revenue of $257.00 million during the quarter, compared to analyst estimates of $191.77 million. Howard Hughes had a return on equity of 2.38% and a net margin of 18.75%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. On average, sell-side analysts anticipate that Howard Hughes Corp will post 1.65 EPS for the current fiscal year.
Several brokerages have recently commented on HHC. Citigroup reduced their target price on shares of Howard Hughes from $160.00 to $157.00 and set a “buy” rating on the stock in a research note on Monday, August 13th. TheStreet lowered shares of Howard Hughes from a “b-” rating to a “c+” rating in a research report on Tuesday, September 18th. Finally, Jefferies Financial Group restated a “$141.27” rating and issued a $171.00 price target on shares of Howard Hughes in a research report on Wednesday, July 18th. One equities research analyst has rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $160.00.
About Howard Hughes
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.
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