Howard Hughes (NYSE:HHH) Shares Up 9.3% – Here’s What Happened

Shares of Howard Hughes Holdings Inc. (NYSE:HHH) rose 9.3% during trading on Monday . The company traded as high as $87.29 and last traded at $87.5350. Approximately 202,548 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 433,177 shares. The stock had previously closed at $80.09.

Analysts Set New Price Targets

HHH has been the topic of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Howard Hughes in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Howard Hughes from $76.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Zacks Research lowered shares of Howard Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Wall Street Zen downgraded shares of Howard Hughes from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.33.

Howard Hughes Stock Up 11.5%

The company has a market cap of $5.30 billion, a P/E ratio of 19.54 and a beta of 1.26. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.85. The firm has a fifty day moving average price of $80.46 and a 200 day moving average price of $73.59.

Insider Buying and Selling at Howard Hughes

In other news, Director Anthony Williams sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $79.58, for a total transaction of $87,538.00. Following the transaction, the director directly owned 8,102 shares in the company, valued at approximately $644,757.16. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 48.00% of the company’s stock.

Institutional Investors Weigh In On Howard Hughes

A number of institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Howard Hughes by 28.9% in the third quarter. EverSource Wealth Advisors LLC now owns 665 shares of the company’s stock valued at $55,000 after acquiring an additional 149 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Howard Hughes by 10.1% in the 3rd quarter. Citigroup Inc. now owns 31,343 shares of the company’s stock valued at $2,575,000 after purchasing an additional 2,863 shares during the last quarter. Clear Creek Financial Management LLC boosted its stake in shares of Howard Hughes by 18.2% in the 3rd quarter. Clear Creek Financial Management LLC now owns 9,653 shares of the company’s stock valued at $793,000 after purchasing an additional 1,486 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Howard Hughes by 0.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 172,315 shares of the company’s stock worth $14,159,000 after buying an additional 1,204 shares during the period. Finally, Cibc World Market Inc. raised its stake in shares of Howard Hughes by 125.9% during the third quarter. Cibc World Market Inc. now owns 13,323 shares of the company’s stock worth $1,095,000 after buying an additional 7,425 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

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.