First Trust Advisors LP Raises Stock Holdings in Howard Hughes Holdings Inc. $HHH

Key Points

• First Trust Advisors increased its Howard Hughes stake by 44.5% in the first quarter, bringing its holdings to 57,951 shares valued at approximately $3.7 million. Institutional investors collectively own 93.83% of HHH.
• Analyst sentiment remains negative: Zacks Research downgraded the stock to “strong sell,” while the consensus rating is “Sell” with a $79 price target.
• Howard Hughes reported quarterly EPS of $2.68, well above the $0.49 consensus estimate, while revenue reached $1.12 billion—up 330.2% year over year. Shares opened at $65.75, near the lower end of their 12-month range.

First Trust Advisors LP grew its position in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 44.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 57,951 shares of the company's stock after acquiring an additional 17,860 shares during the quarter. First Trust Advisors LP owned about 0.10% of Howard Hughes worth $3,666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Howard Hughes by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,822,522 shares of the company's stock worth $178,549,000 after purchasing an additional 208,617 shares during the last quarter. SEB Asset Management AB purchased a new stake in Howard Hughes during the first quarter valued at $763,000. Bank of New York Mellon Corp lifted its position in Howard Hughes by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 103,298 shares of the company's stock valued at $6,535,000 after purchasing an additional 2,482 shares during the last quarter. Global Assets Advisory LLC bought a new position in Howard Hughes during the first quarter valued at $127,000. Finally, Fifth Third Bancorp grew its stake in shares of Howard Hughes by 2,954.2% in the 1st quarter. Fifth Third Bancorp now owns 17,470 shares of the company's stock worth $1,105,000 after buying an additional 16,898 shares in the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HHH has been the topic of a number of research reports. Zacks Research downgraded shares of Howard Hughes from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on shares of Howard Hughes from $76.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Howard Hughes in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Howard Hughes from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Sell" and a consensus price target of $79.00.

Insiders Place Their Bets

In other Howard Hughes news, insider James Carman sold 1,500 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $64.20, for a total value of $96,300.00. Following the completion of the sale, the insider owned 22,096 shares of the company's stock, valued at $1,418,563.20. This trade represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 48.00% of the stock is owned by company insiders.

Howard Hughes Trading Up 0.2%

Shares of HHH opened at $65.75 on Thursday. Howard Hughes Holdings Inc. has a twelve month low of $61.01 and a twelve month high of $91.07. The company has a market cap of $3.92 billion, a P/E ratio of 32.23 and a beta of 1.14. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.97. The company's fifty day simple moving average is $68.16 and its 200-day simple moving average is $69.23.

Howard Hughes (NYSE:HHH - Get Free Report) last released its earnings results 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 firm had revenue of $1.12 billion during the quarter. Howard Hughes had a net margin of 8.04% and a return on equity of 5.41%. Howard Hughes's revenue was up 330.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.22) EPS. As a group, analysts expect that Howard Hughes Holdings Inc. will post 2.77 EPS for the current year.

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. 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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