Flat Footed LLC Purchases Shares of 620,418 Howard Hughes Holdings Inc. $HHH

Flat Footed LLC acquired a new position in Howard Hughes Holdings Inc. (NYSE:HHH) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 620,418 shares of the company’s stock, valued at approximately $44,353,683. Howard Hughes accounts for about 0.0% of Flat Footed LLC’s portfolio, making the stock its 4th largest holding. Flat Footed LLC owned about 1.04% of Howard Hughes at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HHH. EFG International AG purchased a new position in shares of Howard Hughes during the 2nd quarter worth approximately $199,000. Ancora Advisors LLC bought a new stake in Howard Hughes during the 2nd quarter worth about $499,000. Legal & General Group Plc bought a new stake in shares of Howard Hughes in the second quarter valued at about $1,953,000. The Manufacturers Life Insurance Company acquired a new position in Howard Hughes in the 2nd quarter worth about $1,208,000. Finally, Womack Financial LLC acquired a new position in shares of Howard Hughes during the 2nd quarter valued at $601,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Insider Activity at Howard Hughes

In other news, Director Mary Ann Tighe sold 13,495 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $67.25, for a total value of $907,538.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 47.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HHH. Wall Street Zen raised Howard Hughes from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Zacks Research cut shares of Howard Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $79.00.

Howard Hughes Stock Down 0.2%

Shares of Howard Hughes stock traded down $0.12 during trading on Friday, hitting $64.80. 285,120 shares of the stock were exchanged, compared to its average volume of 441,500. The firm’s 50-day moving average price is $68.58 and its 200 day moving average price is $67.57. Howard Hughes Holdings Inc. has a 12-month low of $61.01 and a 12-month high of $91.07. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 13.12 and a beta of 1.14. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.58 and a quick ratio of 1.58.

Howard Hughes (NYSE:HHH) last announced its earnings results on Wednesday, August 5th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $2.19. The firm had revenue of $1.12 billion during the quarter. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The business’s quarterly revenue was up 330.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.22) EPS. As a group, analysts forecast that Howard Hughes Holdings Inc. will post 2.77 earnings per share for the current fiscal year.

Howard Hughes 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. 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.