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

Key Points

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

Other hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP raised its position in shares of Howard Hughes by 103.0% in the 1st quarter. GSA Capital Partners LLP now owns 18,372 shares of the company's stock worth $1,361,000 after acquiring an additional 9,323 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Howard Hughes in the first quarter valued at approximately $1,514,000. LPL Financial LLC grew its holdings in Howard Hughes by 2.5% in the first quarter. LPL Financial LLC now owns 50,854 shares of the company's stock valued at $3,767,000 after purchasing an additional 1,254 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Howard Hughes by 10.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,670 shares of the company's stock valued at $568,000 after acquiring an additional 735 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Howard Hughes in the first quarter valued at approximately $202,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Howard Hughes Stock Performance

Howard Hughes stock traded down $1.06 on Friday, reaching $67.67. 455,563 shares of the stock were exchanged, compared to its average volume of 381,942. The firm has a fifty day moving average price of $68.96 and a two-hundred day moving average price of $71.14. The stock has a market cap of $3.41 billion, a PE ratio of 12.99 and a beta of 1.22. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.84. Howard Hughes Holdings Inc. has a twelve month low of $59.83 and a twelve month high of $87.77.

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

Wall Street Analysts Forecast Growth

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

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.