Picton Mahoney Asset Management Acquires New Stake in Howard Hughes Holdings Inc. (NYSE:HHH)

Picton Mahoney Asset Management acquired a new stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH) in the first quarter, HoldingsChannel reports. The institutional investor acquired 20,432 shares of the company’s stock, valued at approximately $1,514,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in Howard Hughes by 2,290.9% during the 1st quarter. Larson Financial Group LLC now owns 526 shares of the company’s stock valued at $39,000 after buying an additional 504 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Howard Hughes by 14,500.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 876 shares of the company’s stock valued at $65,000 after purchasing an additional 870 shares during the last quarter. Huntington National Bank boosted its stake in Howard Hughes by 335.5% during the 4th quarter. Huntington National Bank now owns 932 shares of the company’s stock valued at $72,000 after purchasing an additional 718 shares during the last quarter. Whittier Trust Co. purchased a new stake in Howard Hughes during the 1st quarter valued at $161,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Howard Hughes by 116.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,340 shares of the company’s stock valued at $174,000 after purchasing an additional 1,260 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

Howard Hughes Price Performance

Shares of Howard Hughes stock opened at $70.55 on Wednesday. Howard Hughes Holdings Inc. has a one year low of $59.83 and a one year high of $87.77. The stock’s fifty day moving average is $68.83 and its 200 day moving average is $71.29. The stock has a market cap of $3.55 billion, a P/E ratio of 13.54 and a beta of 1.21. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.41 and a current ratio of 1.41.

Howard Hughes (NYSE:HHH) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Howard Hughes had a return on equity of 10.21% and a net margin of 14.27%. The business had revenue of $199.33 million for the quarter, compared to analysts’ expectations of $187.43 million. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. Sell-side analysts anticipate that Howard Hughes Holdings Inc. will post 3.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HHH has been the topic of several recent analyst reports. Piper Sandler cut their target price on Howard Hughes from $105.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. downgraded Howard Hughes from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $82.00 to $76.00 in a research note on Monday, June 23rd. Finally, BMO Capital Markets dropped their price target on Howard Hughes from $85.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th.

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.