Crossingbridge Advisors LLC Buys New Shares in Howard Hughes Holdings Inc. $HHH

Key Points

• Crossingbridge Advisors LLC acquired a new stake in Howard Hughes Holdings Inc. by purchasing 6,000 shares valued at approximately $444,000 in the 1st quarter.
• Institutional investors and hedge funds collectively own 93.83% of Howard Hughes' stock, indicating strong institutional interest in the company.
• Several brokerage firms have recently downgraded Howard Hughes' stock ratings and adjusted target prices, with an average rating of "Moderate Buy" and a consensus target price of $80.33.

Crossingbridge Advisors LLC bought a new stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,000 shares of the company's stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Candriam S.C.A. acquired a new position in Howard Hughes during the 1st quarter valued at about $1,335,000. Capital Fund Management S.A. boosted its stake in Howard Hughes by 98.5% during the 1st quarter. Capital Fund Management S.A. now owns 41,924 shares of the company's stock valued at $3,106,000 after purchasing an additional 20,800 shares during the period. EntryPoint Capital LLC boosted its stake in Howard Hughes by 20.1% during the 1st quarter. EntryPoint Capital LLC now owns 9,132 shares of the company's stock valued at $676,000 after purchasing an additional 1,527 shares during the period. Northern Trust Corp boosted its stake in Howard Hughes by 1.3% during the 1st quarter. Northern Trust Corp now owns 237,170 shares of the company's stock valued at $17,570,000 after purchasing an additional 3,149 shares during the period. Finally, Northwest & Ethical Investments L.P. boosted its stake in Howard Hughes by 16.1% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 24,247 shares of the company's stock valued at $1,796,000 after purchasing an additional 3,364 shares during the period. 93.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HHH. Piper Sandler reduced their target price on shares of Howard Hughes from $105.00 to $85.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. BMO Capital Markets reduced their price target on shares of Howard Hughes from $85.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Howard Hughes from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, JPMorgan Chase & Co. lowered shares of Howard Hughes from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $82.00 to $76.00 in a research note on Monday, June 23rd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.33.

Howard Hughes Price Performance

HHH stock traded up $2.87 on Friday, hitting $75.49. 325,295 shares of the company's stock traded hands, compared to its average volume of 389,925. Howard Hughes Holdings Inc. has a 1-year low of $61.40 and a 1-year high of $87.77. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 16.52 and a beta of 1.22. The stock has a fifty day moving average of $70.01 and a 200-day moving average of $70.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.85.

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.