Donald Smith & CO. Inc. Sells 65,226 Shares of Howard Hughes Holdings Inc. $HHH

Key Points

• Donald Smith & Co. trimmed its Howard Hughes Holdings stake by 6.0% in the fourth quarter, selling 65,226 shares and leaving it with 1,020,969 shares valued at about $81.4 million.
• Institutional ownership remains high, with 93.83% of Howard Hughes shares held by institutions; several funds added to positions, including new buying by Norges Bank.
• Analyst sentiment is weak, with the stock carrying an average rating of “Sell” and a $85 price target, even after Howard Hughes beat quarterly EPS estimates and posted 18.4% revenue growth year over year.

Donald Smith & CO. Inc. trimmed its stake in Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,020,969 shares of the company's stock after selling 65,226 shares during the period. Howard Hughes makes up approximately 1.5% of Donald Smith & CO. Inc.'s portfolio, making the stock its 29th biggest holding. Donald Smith & CO. Inc. owned approximately 1.72% of Howard Hughes worth $81,443,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Howard Hughes by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,497,032 shares of the company's stock worth $205,179,000 after purchasing an additional 9,102 shares during the last quarter. American Century Companies Inc. increased its position in shares of Howard Hughes by 0.3% in the third quarter. American Century Companies Inc. now owns 747,495 shares of the company's stock worth $61,422,000 after purchasing an additional 2,595 shares during the last quarter. Crcm LP increased its position in shares of Howard Hughes by 82.5% in the third quarter. Crcm LP now owns 560,713 shares of the company's stock worth $46,074,000 after purchasing an additional 253,490 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Howard Hughes by 98.3% in the third quarter. Russell Investments Group Ltd. now owns 556,860 shares of the company's stock worth $45,757,000 after purchasing an additional 276,083 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Howard Hughes in the fourth quarter worth approximately $31,957,000. 93.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on HHH. Zacks Research cut shares of Howard Hughes from a "hold" rating to a "strong sell" rating in a research report on Friday, April 24th. Weiss Ratings cut shares of Howard Hughes from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 6th. 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. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Sell" and an average price target of $85.00.

Insider Buying and Selling

In related news, General Counsel Joseph Valane acquired 1,260 shares of the company's stock in a transaction dated Friday, March 13th. The stock was purchased at an average price of $64.45 per share, with a total value of $81,207.00. Following the completion of the purchase, the general counsel owned 29,209 shares in the company, valued at $1,882,520.05. This trade represents a 4.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Carman sold 1,500 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $64.20, for a total value of $96,300.00. Following the sale, the insider directly owned 22,096 shares of the company's stock, valued at approximately $1,418,563.20. This trade represents a 6.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 48.00% of the company's stock.

Howard Hughes Stock Down 1.9%

Shares of NYSE HHH opened at $66.42 on Thursday. Howard Hughes Holdings Inc. has a one year low of $61.01 and a one 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. The firm's 50 day simple moving average is $64.16 and its two-hundred day simple moving average is $73.24. The stock has a market capitalization of $3.96 billion, a P/E ratio of 32.56 and a beta of 1.14.

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