Wright Investors Service Inc. Sells 9,461 Shares of Howard Hughes Holdings Inc. $HHH

Wright Investors Service Inc. trimmed its stake in Howard Hughes Holdings Inc. (NYSE:HHH) by 49.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,563 shares of the company’s stock after selling 9,461 shares during the quarter. Wright Investors Service Inc.’s holdings in Howard Hughes were worth $786,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Howard Hughes in the 2nd quarter valued at approximately $25,951,000. Northern Right Capital Management L.P. bought a new position in shares of Howard Hughes in the 2nd quarter valued at about $17,641,000. Millennium Management LLC grew its position in shares of Howard Hughes by 2,368.8% in the 1st quarter. Millennium Management LLC now owns 165,926 shares of the company’s stock valued at $12,292,000 after acquiring an additional 159,205 shares during the period. Prudential Financial Inc. acquired a new position in shares of Howard Hughes during the 2nd quarter worth about $9,429,000. Finally, Candriam S.C.A. raised its holdings in shares of Howard Hughes by 743.3% in the 2nd quarter. Candriam S.C.A. now owns 151,946 shares of the company’s stock valued at $10,257,000 after purchasing an additional 133,927 shares during the period. Institutional investors and hedge funds own 93.83% of the company’s stock.

Insider Buying and Selling at Howard Hughes

In other news, Director R Scot Sellers acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were purchased at an average cost of $77.94 per share, with a total value of $389,700.00. Following the acquisition, the director directly owned 67,517 shares in the company, valued at $5,262,274.98. This represents a 8.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary Ann Tighe sold 6,000 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $88.83, for a total value of $532,980.00. Following the transaction, the director owned 13,495 shares in the company, valued at $1,198,760.85. The trade was a 30.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 48.00% of the company’s stock.

Howard Hughes Stock Up 1.8%

Howard Hughes stock opened at $83.37 on Friday. The company’s 50-day moving average price is $83.63 and its two-hundred day moving average price is $78.60. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. The stock has a market cap of $4.95 billion, a P/E ratio of 16.25 and a beta of 1.22. Howard Hughes Holdings Inc. has a twelve month low of $61.40 and a twelve month high of $91.07.

Howard Hughes (NYSE:HHH) last issued its quarterly earnings data on Monday, November 10th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.46. The company had revenue of $390.24 million during the quarter, compared to analysts’ expectations of $331.52 million. Howard Hughes had a return on equity of 11.06% and a net margin of 14.95%.The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.95 earnings per share. As a group, analysts expect that Howard Hughes Holdings Inc. will post 3.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Howard Hughes in a report on Monday, December 29th. Zacks Research cut Howard Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen upgraded Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $83.33.

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.