OP Asset Management Ltd Purchases New Holdings in Howard Hughes Holdings Inc. $HHH

OP Asset Management Ltd purchased a new stake in Howard Hughes Holdings Inc. (NYSE:HHH) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 35,247 shares of the company’s stock, valued at approximately $2,230,000.

Several other institutional investors have also recently made changes to their positions in HHH. Dimensional Fund Advisors LP raised its stake in shares of Howard Hughes by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,613,905 shares of the company’s stock worth $208,513,000 after purchasing an additional 116,873 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Howard Hughes by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 747,495 shares of the company’s stock valued at $61,422,000 after buying an additional 2,595 shares during the last quarter. Crcm LP grew its stake in shares of Howard Hughes by 9.3% in the fourth quarter. Crcm LP now owns 612,839 shares of the company’s stock valued at $48,886,000 after buying an additional 52,126 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Howard Hughes by 98.3% during the third quarter. Russell Investments Group Ltd. now owns 556,860 shares of the company’s stock worth $45,757,000 after buying an additional 276,083 shares during the last quarter. Finally, Norges Bank acquired a new position in Howard Hughes during the fourth quarter worth $31,957,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Howard Hughes Stock Performance

HHH opened at $72.27 on Friday. The business has a fifty day simple moving average of $65.17 and a 200 day simple moving average of $71.67. The company has a market capitalization of $4.31 billion, a PE ratio of 35.42 and a beta of 1.14. Howard Hughes Holdings Inc. has a 1 year low of $61.01 and a 1 year high of $91.07. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.58 and a quick ratio of 1.58.

Howard Hughes (NYSE:HHH) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.06. The business had revenue of $235.92 million during the quarter. Howard Hughes had a return on equity of 5.41% and a net margin of 8.04%.The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. Research analysts expect that Howard Hughes Holdings Inc. will post 3.01 EPS for the current year.

Insider Buying and Selling

In related news, insider James Carman sold 1,500 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $64.20, for a total value of $96,300.00. Following the completion of the transaction, the insider owned 22,096 shares of the company’s stock, valued at $1,418,563.20. The trade was a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 48.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HHH shares. Zacks Research raised shares of Howard Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Wall Street Zen upgraded shares of Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Howard Hughes has an average rating of “Reduce” and a consensus price target of $85.00.

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. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.