Howard Hughes Corp (NYSE:HHC) Sees Large Drop in Short Interest

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Howard Hughes Corp (NYSE:HHC) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 1,146,000 shares, a drop of 6.6% from the July 31st total of 1,227,100 shares. Based on an average trading volume of 336,600 shares, the short-interest ratio is presently 3.4 days. Currently, 2.8% of the company’s stock are short sold.

Several analysts recently issued reports on the company. Zacks Investment Research lowered Howard Hughes from a “hold” rating to a “strong sell” rating in a report on Thursday, August 15th. TheStreet lowered Howard Hughes from a “b-” rating to a “c” rating in a report on Wednesday, May 29th.

Shares of NYSE:HHC traded down $2.47 during midday trading on Friday, hitting $130.26. 192,043 shares of the stock were exchanged, compared to its average volume of 182,890. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.64 and a current ratio of 1.64. Howard Hughes has a 52-week low of $89.51 and a 52-week high of $135.42. The business’s fifty day simple moving average is $129.33 and its two-hundred day simple moving average is $116.25. The company has a market capitalization of $5.73 billion, a PE ratio of 98.68 and a beta of 1.32.

Howard Hughes (NYSE:HHC) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. Howard Hughes had a return on equity of 3.24% and a net margin of 7.03%. The company had revenue of $431.32 million for the quarter, compared to analyst estimates of $397.43 million. During the same period last year, the company earned ($0.12) earnings per share. The business’s revenue was up 138.3% compared to the same quarter last year. As a group, equities analysts anticipate that Howard Hughes will post 0.45 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in Howard Hughes by 16.7% during the first quarter. Principal Financial Group Inc. now owns 2,161,206 shares of the financial services provider’s stock valued at $237,732,000 after buying an additional 309,546 shares in the last quarter. Caledonia Private Investments Pty Ltd raised its holdings in Howard Hughes by 24.5% during the second quarter. Caledonia Private Investments Pty Ltd now owns 1,648,982 shares of the financial services provider’s stock valued at $204,210,000 after buying an additional 324,348 shares in the last quarter. FMR LLC raised its holdings in Howard Hughes by 13.5% during the first quarter. FMR LLC now owns 826,538 shares of the financial services provider’s stock valued at $90,920,000 after buying an additional 98,150 shares in the last quarter. Villere ST Denis J & Co. LLC raised its holdings in Howard Hughes by 1.9% during the second quarter. Villere ST Denis J & Co. LLC now owns 660,038 shares of the financial services provider’s stock valued at $81,739,000 after buying an additional 12,560 shares in the last quarter. Finally, Becker Capital Management Inc. raised its holdings in Howard Hughes by 1.0% during the second quarter. Becker Capital Management Inc. now owns 414,595 shares of the financial services provider’s stock valued at $51,343,000 after buying an additional 4,207 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Howard Hughes Company Profile

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through three segments: Operating Assets, Master Planned Communities, and Strategic Developments. The Operating Assets segment owns 15 retail, 28 office, 8 multi-family, and 4 hospitality properties, as well as 10 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, Hawai’i.

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