Lazard Asset Management LLC Makes New $1.43 Million Investment in Howard Hughes Holdings Inc. $HHH

Lazard Asset Management LLC purchased a new stake in Howard Hughes Holdings Inc. (NYSE:HHH) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 22,638 shares of the company’s stock, valued at approximately $1,432,000.

A number of other hedge funds have also recently made changes to their positions in HHH. Signaturefd LLC increased its holdings in shares of Howard Hughes by 41.5% in the fourth quarter. Signaturefd LLC now owns 423 shares of the company’s stock worth $34,000 after purchasing an additional 124 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Howard Hughes by 191.5% during the second quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company’s stock valued at $35,000 after buying an additional 339 shares during the period. Huntington National Bank grew its position in Howard Hughes by 134.1% during the fourth quarter. Huntington National Bank now owns 494 shares of the company’s stock worth $39,000 after buying an additional 283 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Howard Hughes during the fourth quarter worth about $43,000. Finally, Atlas Capital Advisors Inc. bought a new position in Howard Hughes in the 4th quarter worth about $43,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider James Carman sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $64.20, for a total transaction of $96,300.00. Following the transaction, the insider directly 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 48.00% of the company’s stock.

Howard Hughes Stock Up 0.8%

Shares of NYSE:HHH opened at $65.71 on Wednesday. The firm has a market capitalization of $3.92 billion, a PE ratio of 32.21 and a beta of 1.14. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.58 and a current ratio of 1.58. Howard Hughes Holdings Inc. has a 52-week low of $61.01 and a 52-week high of $91.07. The firm has a fifty day moving average of $68.13 and a 200 day moving average of $69.36.

Howard Hughes (NYSE:HHH) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. Howard Hughes had a return on equity of 5.41% and a net margin of 8.04%.The business had revenue of $235.92 million for the quarter. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, research analysts anticipate that Howard Hughes Holdings Inc. will post 2.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Howard Hughes in a report on Friday, July 17th. Wall Street Zen upgraded shares of Howard Hughes from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded shares of Howard Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Howard Hughes presently has an average rating of “Sell” and a consensus target price of $79.00.

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.