The Howard Hughes Co. (NYSE:HHC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of The Howard Hughes Co. (NYSE:HHC) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,773 shares of the financial services provider’s stock after selling 390 shares during the period. Victory Capital Management Inc.’s holdings in Howard Hughes were worth $683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Metropolitan Life Insurance Co NY acquired a new position in Howard Hughes during the 2nd quarter worth about $84,000. Canton Hathaway LLC acquired a new position in Howard Hughes during the 3rd quarter worth about $88,000. Stifel Financial Corp acquired a new position in Howard Hughes during the 2nd quarter worth about $204,000. Prudential Financial Inc. acquired a new position in Howard Hughes during the 2nd quarter worth about $204,000. Finally, Utah Retirement Systems acquired a new position in Howard Hughes during the 2nd quarter worth about $207,000. 90.92% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research lowered Howard Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday.

Shares of NYSE HHC opened at $101.42 on Friday. The stock’s 50-day moving average is $94.68 and its two-hundred day moving average is $92.09. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.68 and a quick ratio of 1.68. The Howard Hughes Co. has a 1-year low of $81.99 and a 1-year high of $113.20. The company has a market cap of $5.59 billion, a price-to-earnings ratio of -87.43 and a beta of 1.50.

Howard Hughes (NYSE:HHC) last issued its quarterly earnings results on Thursday, November 4th. The financial services provider reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.32. Howard Hughes had a negative return on equity of 0.77% and a negative net margin of 7.70%. During the same quarter in the prior year, the business posted $2.70 EPS. Equities research analysts anticipate that The Howard Hughes Co. will post 0.98 earnings per share for the current fiscal year.

Howard Hughes declared that its board has approved a share repurchase plan on Thursday, November 4th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Howard Hughes Company Profile

The Howard Hughes Corp. engages in the development and management of commercial, residential, and mixed-use real estate. It operates through the following segments: Operating Assets, Master Planned Communities; Seaport District; and Strategic Developments. The Operating Assets segment consists retail, office, hospitality, and multi-family properties along with other real estate investments.

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Institutional Ownership by Quarter for Howard Hughes (NYSE:HHC)

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