JCP Investment Management LLC Grows Stake in Howard Hughes Holdings Inc. $HHH

JCP Investment Management LLC lifted its holdings in shares of Howard Hughes Holdings Inc. (NYSE:HHH) by 29.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,100 shares of the company’s stock after buying an additional 53,000 shares during the period. Howard Hughes makes up about 9.9% of JCP Investment Management LLC’s investment portfolio, making the stock its 4th largest holding. JCP Investment Management LLC’s holdings in Howard Hughes were worth $14,809,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HHH. Dimensional Fund Advisors LP increased its position in Howard Hughes by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,822,522 shares of the company’s stock valued at $178,549,000 after acquiring an additional 208,617 shares during the period. Crcm LP boosted its position in Howard Hughes by 9.3% during the 4th quarter. Crcm LP now owns 612,839 shares of the company’s stock worth $48,886,000 after acquiring an additional 52,126 shares during the period. Norges Bank acquired a new position in Howard Hughes during the 4th quarter worth $31,957,000. Gotham Asset Management LLC grew its stake in shares of Howard Hughes by 1.3% in the fourth quarter. Gotham Asset Management LLC now owns 341,698 shares of the company’s stock worth $27,257,000 after purchasing an additional 4,499 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Howard Hughes by 3.3% in the third quarter. Bank of America Corp DE now owns 297,066 shares of the company’s stock worth $24,410,000 after purchasing an additional 9,613 shares in the last quarter. 93.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider James Carman sold 1,500 shares of Howard Hughes 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 $1,418,563.20. The trade was a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 48.00% of the stock is owned by corporate insiders.

Howard Hughes Stock Performance

Shares of NYSE HHH opened at $65.91 on Monday. The stock has a fifty day moving average price of $67.85 and a two-hundred day moving average price of $70.16. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market cap of $3.93 billion, a P/E ratio of 32.31 and a beta of 1.12. Howard Hughes Holdings Inc. has a 1 year low of $61.01 and a 1 year high of $91.07.

Howard Hughes (NYSE:HHH) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.06. Howard Hughes had a return on equity of 5.41% and a net margin of 8.04%.The company had revenue of $235.92 million for the quarter. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. Research analysts forecast that Howard Hughes Holdings Inc. will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HHH shares. Wall Street Zen raised Howard Hughes from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. increased their target price on shares of Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Howard Hughes in a research note on Friday, July 17th. Finally, Zacks Research cut 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, the stock has a consensus rating of “Sell” and an average 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.