Alpine Associates Management Inc. Invests $8.23 Million in Howard Hughes Holdings Inc. (NYSE:HHH)

Key Points

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Alpine Associates Management Inc. bought a new stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 111,044 shares of the company's stock, valued at approximately $8,226,000. Alpine Associates Management Inc. owned about 0.22% of Howard Hughes at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in HHH. Larson Financial Group LLC grew its holdings in shares of Howard Hughes by 2,290.9% during the first quarter. Larson Financial Group LLC now owns 526 shares of the company's stock valued at $39,000 after purchasing an additional 504 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Howard Hughes by 14,500.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 876 shares of the company's stock worth $65,000 after buying an additional 870 shares in the last quarter. Huntington National Bank grew its holdings in Howard Hughes by 335.5% in the 4th quarter. Huntington National Bank now owns 932 shares of the company's stock worth $72,000 after buying an additional 718 shares in the last quarter. Whittier Trust Co. bought a new position in Howard Hughes in the 1st quarter worth approximately $161,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Howard Hughes by 116.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,340 shares of the company's stock worth $174,000 after buying an additional 1,260 shares in the last quarter. 93.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BMO Capital Markets decreased their price objective on Howard Hughes from $85.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Piper Sandler decreased their price target on Howard Hughes from $105.00 to $85.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. lowered Howard Hughes from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $82.00 to $76.00 in a research note on Monday, June 23rd.

Howard Hughes Price Performance

Shares of NYSE:HHH traded up $0.99 on Monday, reaching $68.63. 282,595 shares of the company traded hands, compared to its average volume of 475,843. Howard Hughes Holdings Inc. has a fifty-two week low of $59.83 and a fifty-two week high of $87.77. The company's 50 day moving average is $68.96 and its 200-day moving average is $71.05. The stock has a market capitalization of $3.46 billion, a PE ratio of 13.17 and a beta of 1.22. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.41 and a quick ratio of 1.41.

Howard Hughes (NYSE:HHH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.08. The company had revenue of $199.33 million during the quarter, compared to the consensus estimate of $187.43 million. Howard Hughes had a return on equity of 10.21% and a net margin of 14.27%. The business's revenue for the quarter was up 27.3% compared to the same quarter last year. As a group, analysts anticipate that Howard Hughes Holdings Inc. will post 3.7 earnings per share for the current fiscal year.

Howard Hughes Company 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.