Howard Hughes (NYSE:HHH) Reaches New 12-Month Low Following Analyst Downgrade

Howard Hughes Holdings Inc. (NYSE:HHH)’s share price hit a new 52-week low during mid-day trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $90.00 to $84.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Howard Hughes traded as low as $60.06 and last traded at $60.14, with a volume of 53415 shares. The stock had previously closed at $61.57.

Separately, TheStreet upgraded shares of Howard Hughes from a “d+” rating to a “c-” rating in a research note on Friday, December 22nd.

Insider Buying and Selling

In other Howard Hughes news, insider Heath Melton sold 1,926 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $72.95, for a total value of $140,501.70. Following the completion of the sale, the insider now owns 9,274 shares of the company’s stock, valued at approximately $676,538.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 33.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KBC Group NV acquired a new position in shares of Howard Hughes in the 4th quarter valued at approximately $38,000. International Assets Investment Management LLC acquired a new position in shares of Howard Hughes during the 4th quarter worth $44,000. Baker Avenue Asset Management LP acquired a new position in shares of Howard Hughes during the 3rd quarter worth $45,000. Citigroup Inc. bought a new stake in shares of Howard Hughes during the 3rd quarter worth $48,000. Finally, Baystate Wealth Management LLC acquired a new stake in Howard Hughes in the fourth quarter valued at about $68,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Howard Hughes Stock Performance

The stock has a market cap of $3.03 billion, a P/E ratio of -5.40 and a beta of 1.48. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a 50-day simple moving average of $73.35 and a 200-day simple moving average of $75.14.

Howard Hughes (NYSE:HHH) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.25. Howard Hughes had a negative return on equity of 0.62% and a negative net margin of 53.88%. The business had revenue of $335.84 million for the quarter, compared to analyst estimates of $318.32 million. Research analysts forecast that Howard Hughes Holdings Inc. will post 3.63 earnings per share for the current year.

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.