Howard Hughes Holdings Inc. $HHH Shares Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management reduced its Howard Hughes Holdings stake by 38.7% in the third quarter, selling 18,871 shares and retaining 29,943 shares valued at approximately $2.2 million.
• Institutional investors own 93.83% of HHH, while company insiders own 47.70%. Director Mary Tighe sold shares, while COO Andrew D. Davis purchased 1,000 shares.
• Analysts maintain a “Moderate Buy” consensus with an $81 target price. Howard Hughes recently reported $2.68 quarterly EPS, far exceeding the $0.49 estimate, alongside 330.2% year-over-year revenue growth.

Apollon Wealth Management LLC trimmed its holdings in Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 38.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,943 shares of the company's stock after selling 18,871 shares during the period. Apollon Wealth Management LLC owned about 0.05% of Howard Hughes worth $2,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HHH. Allworth Financial LP acquired a new stake in Howard Hughes in the second quarter valued at $31,000. GAMMA Investing LLC increased its position in shares of Howard Hughes by 74.5% in the 3rd quarter. GAMMA Investing LLC now owns 452 shares of the company's stock worth $33,000 after purchasing an additional 193 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Howard Hughes by 688.4% in the 2nd quarter. Versant Capital Management Inc now owns 883 shares of the company's stock valued at $63,000 after purchasing an additional 771 shares in the last quarter. Nykredit A S acquired a new stake in shares of Howard Hughes in the 2nd quarter valued at about $110,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of Howard Hughes in the 1st quarter valued at about $127,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Howard Hughes

In related news, Director Mary Tighe sold 13,495 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total transaction of $907,538.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew D. Davis bought 1,000 shares of the company's stock in a transaction on Wednesday, September 23rd. The stock was bought at an average cost of $64.49 per share, for a total transaction of $64,490.00. Following the completion of the transaction, the chief operating officer directly owned 32,530 shares of the company's stock, valued at $2,097,859.70. This trade represents a 3.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 47.70% of the company's stock.

Analyst Upgrades and Downgrades

HHH has been the subject of several research analyst reports. Weiss Ratings raised Howard Hughes from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday. Zacks Research upgraded Howard Hughes from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 13th. JPMorgan Chase & Co. increased their target price on Howard Hughes from $76.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Finally, Piper Sandler decreased their target price on Howard Hughes from $100.00 to $83.00 and set an "overweight" rating for the company in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Howard Hughes has a consensus rating of "Moderate Buy" and a consensus target price of $81.00.

Howard Hughes Price Performance

HHH opened at $73.77 on Thursday. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.35. The company's 50-day moving average price is $67.65 and its 200 day moving average price is $68.97. Howard Hughes Holdings Inc. has a fifty-two week low of $60.09 and a fifty-two week high of $91.07. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 14.93 and a beta of 1.14.

Howard Hughes (NYSE:HHH - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.68 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $2.19. The company had revenue of $1.12 billion during the quarter. Howard Hughes had a return on equity of 7.51% and a net margin of 12.31%. The business's revenue was up 330.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. As a group, sell-side analysts expect that Howard Hughes Holdings Inc. will post 4.47 earnings per share for the current year.

About Howard Hughes

Howard Hughes Holdings Inc NYSE: HHH is a real estate development and operating company focused primarily on master planned communities, residential and commercial development, and the management of related real estate assets. The company develops large-scale communities that may include housing, retail, offices, schools, parks and other amenities, while generating revenue through land sales, development activities and property operations.

The company's master planned community portfolio has included Summerlin in the Las Vegas area; Bridgeland, The Woodlands and The Woodlands Hills in the greater Houston area; and other communities and real estate assets in selected U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.