First Manhattan CO. LLC. Has $19.85 Million Stock Position in Howard Hughes Holdings Inc. $HHH

Key Points

• First Manhattan Co. LLC increased its holdings in Howard Hughes Holdings Inc. by 8.4%, acquiring an additional 20,684 shares and owning a total of 267,978 shares worth approximately $19.85 million.
• Major institutional investors have recently adjusted their positions in Howard Hughes, with Egerton Capital raising its stake by 169.5% during the first quarter.
• Howard Hughes stock currently holds an average rating of "Moderate Buy" among analysts, with a consensus target price set at $83.33.

First Manhattan CO. LLC. boosted its stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 8.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 267,978 shares of the company's stock after acquiring an additional 20,684 shares during the quarter. First Manhattan CO. LLC. owned approximately 0.53% of Howard Hughes worth $19,852,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC lifted its position in Howard Hughes by 236.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 61,395 shares of the company's stock valued at $4,548,000 after purchasing an additional 43,122 shares during the period. Royal Bank of Canada lifted its position in Howard Hughes by 1,900.6% during the 1st quarter. Royal Bank of Canada now owns 99,248 shares of the company's stock valued at $7,353,000 after purchasing an additional 94,287 shares during the period. Graham Capital Management L.P. lifted its position in Howard Hughes by 20.3% during the 1st quarter. Graham Capital Management L.P. now owns 38,200 shares of the company's stock valued at $2,830,000 after purchasing an additional 6,454 shares during the period. Trexquant Investment LP lifted its position in Howard Hughes by 68.5% during the 1st quarter. Trexquant Investment LP now owns 66,501 shares of the company's stock valued at $4,926,000 after purchasing an additional 27,043 shares during the period. Finally, Comerica Bank lifted its position in Howard Hughes by 619.4% during the 1st quarter. Comerica Bank now owns 7,136 shares of the company's stock valued at $529,000 after purchasing an additional 6,144 shares during the period. Institutional investors own 93.83% of the company's stock.

Howard Hughes Trading Up 1.5%

Shares of NYSE:HHH traded up $1.16 during mid-day trading on Friday, reaching $78.88. The stock had a trading volume of 376,231 shares, compared to its average volume of 325,456. The firm has a market cap of $4.69 billion, a PE ratio of 17.26 and a beta of 1.21. The firm has a 50 day simple moving average of $71.56 and a two-hundred day simple moving average of $70.71. 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 Holdings Inc. has a twelve month low of $61.40 and a twelve month high of $87.77.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Howard Hughes from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. upped their target price on shares of Howard Hughes from $76.00 to $85.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Zacks Research downgraded shares of Howard Hughes from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Piper Sandler cut their price target on shares of Howard Hughes from $105.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.33.

Howard Hughes 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.