Howard Hughes (NYSE:HHH) Stock Price Up 3.6% – Time to Buy?

Howard Hughes Holdings Inc. (NYSE:HHH)’s share price shot up 3.6% on Monday. The stock traded as high as $69.87 and last traded at $70.9170. 81,448 shares changed hands during trading, a decline of 83% from the average session volume of 470,428 shares. The stock had previously closed at $68.43.

Analysts Set New Price Targets

Several research analysts recently issued reports on HHH shares. Weiss Ratings upgraded shares of Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Zacks Research upgraded Howard Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Howard Hughes currently has an average rating of “Hold” and a consensus price target of $79.00.

Howard Hughes Price Performance

The company has a debt-to-equity ratio of 1.35, a current ratio of 2.31 and a quick ratio of 2.31. The firm has a market capitalization of $4.39 billion, a P/E ratio of 14.87 and a beta of 1.14. The firm’s 50 day simple moving average is $65.22 and its two-hundred day simple moving average is $65.65.

Howard Hughes (NYSE:HHH) last announced its quarterly earnings data 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 for the quarter. Howard Hughes had a return on equity of 7.51% and a net margin of 12.31%.The firm’s quarterly revenue was up 330.2% compared to the same quarter last year. During the same period last year, the business posted ($0.22) earnings per share. As a group, analysts predict that Howard Hughes Holdings Inc. will post 4.75 earnings per share for the current year.

Insider Activity at Howard Hughes

In other Howard Hughes news, Director Mary Tighe sold 13,495 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total value of $907,538.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew D. Davis acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were bought at an average cost of $64.49 per share, with a total value of $64,490.00. Following the purchase, the chief operating officer owned 32,530 shares of the company’s stock, valued at approximately $2,097,859.70. This trade represents a 3.17% increase in their position. The SEC filing for this purchase provides additional information. 47.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Howard Hughes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HHH. Dimensional Fund Advisors LP grew its holdings 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 worth $178,549,000 after acquiring an additional 208,617 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Howard Hughes during the second quarter worth about $115,766,000. Donald Smith & CO. Inc. purchased a new stake in shares of Howard Hughes during the second quarter worth about $71,691,000. Flat Footed LLC bought a new stake in shares of Howard Hughes in the second quarter worth about $44,353,683. Finally, Crcm LP increased its holdings in Howard Hughes by 9.3% during the 4th quarter. Crcm LP now owns 612,839 shares of the company’s stock valued at $48,886,000 after purchasing an additional 52,126 shares during the period. 93.83% of the stock is currently owned by institutional investors.

About Howard Hughes

Howard Hughes Holdings Inc is a real estate development and management company that creates and operates large-scale master planned communities, mixed-use properties and strategic real estate developments. Its activities include land development, homebuilder lot sales, commercial and multifamily development, retail operations and the management of community amenities and infrastructure.

The company’s master planned communities include Summerlin in the Las Vegas area, The Woodlands and Bridgeland in the Houston area, The Woodlands Hills in Texas, Teravalis in the Phoenix area and Ward Village in Honolulu.