FDx Advisors Inc. raised its holdings in shares of Howard Hughes Corp (NYSE:HHC) by 2,027.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,363 shares of the financial services provider’s stock after acquiring an additional 54,667 shares during the quarter. FDx Advisors Inc. owned about 0.10% of Howard Hughes worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of HHC. BNP Paribas Arbitrage SA increased its holdings in shares of Howard Hughes by 243.9% in the first quarter. BNP Paribas Arbitrage SA now owns 34,847 shares of the financial services provider’s stock worth $1,760,000 after purchasing an additional 24,715 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Howard Hughes by 4.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,122 shares of the financial services provider’s stock worth $1,917,000 after purchasing an additional 697 shares during the period. Blair William & Co. IL bought a new position in shares of Howard Hughes in the fourth quarter worth $499,000. JPMorgan Chase & Co. increased its holdings in shares of Howard Hughes by 1,415.5% in the first quarter. JPMorgan Chase & Co. now owns 81,596 shares of the financial services provider’s stock worth $4,123,000 after purchasing an additional 76,212 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Howard Hughes by 71.0% in the first quarter. Treasurer of the State of North Carolina now owns 16,532 shares of the financial services provider’s stock worth $835,000 after purchasing an additional 6,865 shares during the period. 90.65% of the stock is currently owned by institutional investors and hedge funds.

NYSE HHC opened at $52.66 on Tuesday. The company has a 50-day simple moving average of $53.08 and a two-hundred day simple moving average of $84.64. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.16. Howard Hughes Corp has a 12-month low of $35.10 and a 12-month high of $135.42. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -27.57 and a beta of 1.61.

Howard Hughes (NYSE:HHC) last posted its quarterly earnings results on Monday, May 11th. The financial services provider reported ($2.88) earnings per share (EPS) for the quarter, missing the 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 business had revenue of $175.20 million for the quarter, compared to analysts’ expectations of $236.14 million. During the same quarter in the previous year, the company earned $0.74 earnings per share. The business’s quarterly revenue was down 50.4% on a year-over-year basis. Equities analysts expect that Howard Hughes Corp will post -6.58 earnings per share for the current fiscal year.

Several research firms have recently weighed in on HHC. Zacks Investment Research cut shares of Howard Hughes from a “hold” rating to a “sell” rating in a report on Wednesday, June 3rd. BWS Financial reaffirmed a “buy” rating and issued a $80.00 price target on shares of Howard Hughes in a report on Monday, June 8th. TheStreet cut shares of Howard Hughes from a “c-” rating to a “d” rating in a report on Monday, May 18th. Finally, Piper Sandler increased their target price 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 stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $58.66, for a total transaction of $102,600,563.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 35.70% of the company’s stock.

About Howard Hughes

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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