Draper Asset Management LLC Acquires 60,303 Shares of Howard Hughes Holdings Inc. $HHH

Key Points

• Draper Asset Management acquired 60,303 shares of Howard Hughes Holdings, valued at approximately $4.44 million, giving it a 0.10% stake and making HHH its 12th-largest portfolio holding.
• Howard Hughes reported strong quarterly results, with earnings of $2.68 per share versus the $0.49 consensus estimate and revenue of $1.12 billion, up 330.2% year over year.
• HHH shares recently traded at $73.60, while analysts maintain an average Hold rating and a $79 price target; institutional investors own 93.83% of the stock.

Draper Asset Management LLC acquired a new stake in Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 60,303 shares of the company's stock, valued at approximately $4,440,000. Howard Hughes accounts for 2.0% of Draper Asset Management LLC's investment portfolio, making the stock its 12th biggest position. Draper Asset Management LLC owned about 0.10% of Howard Hughes as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in Howard Hughes by 74.5% during the 3rd quarter. GAMMA Investing LLC now owns 452 shares of the company's stock valued at $33,000 after acquiring an additional 193 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Howard Hughes in the 2nd quarter valued at approximately $195,000. Squarepoint Ops LLC increased its holdings in shares of Howard Hughes by 520.5% in the second quarter. Squarepoint Ops LLC now owns 83,379 shares of the company's stock valued at $5,961,000 after purchasing an additional 69,941 shares during the period. Baird Financial Group Inc. raised its stake in shares of Howard Hughes by 3.6% during the second quarter. Baird Financial Group Inc. now owns 7,771 shares of the company's stock worth $556,000 after purchasing an additional 272 shares during the last quarter. Finally, Nykredit A S acquired a new stake in shares of Howard Hughes during the second quarter worth $110,000. 93.83% of the stock is owned by hedge funds and other institutional investors.

Howard Hughes Price Performance

Howard Hughes stock traded up $1.67 during midday trading on Friday, reaching $73.60. The company's stock had a trading volume of 436,180 shares, compared to its average volume of 495,633. The firm has a market capitalization of $4.40 billion, a PE ratio of 14.90 and a beta of 1.14. Howard Hughes Holdings Inc. has a fifty-two week low of $60.09 and a fifty-two week high of $91.07. The stock's 50 day simple moving average is $66.35 and its 200 day simple moving average is $66.25. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.31 and a current ratio of 2.31.

Howard Hughes (NYSE:HHH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $2.19. The business 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 business's revenue for the quarter was up 330.2% compared to the same quarter last year. During the same period last year, the company earned ($0.22) earnings per share. On average, equities research analysts forecast that Howard Hughes Holdings Inc. will post 4.75 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Weiss Ratings raised 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 target price on shares of Howard Hughes from $76.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Finally, Zacks Research raised shares of Howard Hughes from a "strong sell" rating to a "hold" rating in a report on Monday, September 14th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $79.00.

Insider Activity

In other news, Director Mary Tighe sold 13,495 shares of Howard Hughes stock in a transaction that occurred on Tuesday, August 11th. The shares were 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 is available through this hyperlink. Also, COO Andrew D. Davis purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, September 23rd. The shares were purchased at an average cost of $64.49 per share, for a total transaction of $64,490.00. Following the purchase, the chief operating officer directly owned 32,530 shares in the company, valued at approximately $2,097,859.70. This represents a 3.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 47.70% of the company's stock.

Howard Hughes Profile

Howard Hughes Holdings Inc NYSE: HHH is a real estate development and management company focused primarily on master planned communities and mixed-use properties. The company develops residential neighborhoods and supporting infrastructure while also owning and operating commercial, retail, office, multifamily, hospitality and entertainment assets.

Its portfolio includes master planned communities such as The Woodlands, Bridgeland and The Woodlands Hills in the Houston area; Summerlin in the Las Vegas region; Ward Village in Honolulu; and Teravalis in the Phoenix metropolitan area.

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