Ancora Advisors LLC Decreases Stake in Howard Hughes Holdings Inc. $HHH

Key Points

• Ancora Advisors cut its Howard Hughes stake by 74.7% in the second quarter, selling 20,647 shares and retaining 6,975 shares valued at approximately $499,000.
• Institutional investors own 93.83% of HHH, while director Mary Tighe sold 13,495 shares for about $907,539. Corporate insiders currently own 47.70% of the stock.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and a $79 price target. Howard Hughes nevertheless reported quarterly EPS of $2.68, well above the $0.49 consensus estimate, while revenue surged 330.2% year over year to $1.12 billion.

Ancora Advisors LLC lessened its holdings in Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 74.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,975 shares of the company's stock after selling 20,647 shares during the quarter. Ancora Advisors LLC's holdings in Howard Hughes were worth $499,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Howard Hughes by 5.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,006 shares of the company's stock worth $7,149,000 after buying an additional 5,161 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of Howard Hughes during the 2nd quarter worth about $4,278,000. Twin Lakes Capital Management LLC purchased a new position in shares of Howard Hughes in the 2nd quarter valued at about $319,000. Jefferies Financial Group Inc. purchased a new position in shares of Howard Hughes in the 2nd quarter valued at about $220,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Howard Hughes during the 2nd quarter worth about $650,000. Hedge funds and other institutional investors own 93.83% of the company's stock.

Insider Buying and Selling

In other Howard Hughes news, Director Mary Tighe sold 13,495 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total transaction of $907,538.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 47.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HHH has been the subject of several recent analyst reports. Zacks Research cut Howard Hughes from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of Howard Hughes from a "sell (d)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on shares of Howard Hughes from $76.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of Howard Hughes from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $79.00.

Howard Hughes Stock Performance

Shares of HHH opened at $63.66 on Friday. The company's 50 day simple moving average is $68.15 and its 200-day simple moving average is $66.89. The firm has a market cap of $3.80 billion, a PE ratio of 12.89 and a beta of 1.14. Howard Hughes Holdings Inc. has a 12-month low of $61.01 and a 12-month high of $91.07. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.35.

Howard Hughes (NYSE:HHH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $2.19. The company had revenue of $1.12 billion for the quarter. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The company's revenue for the quarter was up 330.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.22) earnings per share. As a group, equities analysts predict that Howard Hughes Holdings Inc. will post 2.77 EPS for the current year.

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.

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