Hsbc Holdings PLC Cuts Holdings in Howard Hughes Holdings Inc. $HHH

Key Points

• Hsbc Holdings PLC significantly reduced its stake in Howard Hughes Holdings Inc. by 69.1% during the first quarter, now owning only 6,192 shares valued at approximately $455,000.
• Other hedge funds also adjusted their positions, with Raymond James Financial Inc. increasing its holdings by an impressive 625.4% during the same period.
• Wall Street analysts have mixed views on Howard Hughes, with ratings varying from "sell" to "outperform," and a consensus target price of $83.33 for the stock.

Hsbc Holdings PLC lowered its position in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 69.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,192 shares of the company's stock after selling 13,864 shares during the quarter. Hsbc Holdings PLC's holdings in Howard Hughes were worth $455,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its stake in Howard Hughes by 910.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 394 shares of the company's stock valued at $29,000 after acquiring an additional 355 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Howard Hughes during the 1st quarter worth about $37,000. Larson Financial Group LLC boosted its position in shares of Howard Hughes by 2,290.9% in the first quarter. Larson Financial Group LLC now owns 526 shares of the company's stock valued at $39,000 after acquiring an additional 504 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Howard Hughes by 14,500.0% during the first quarter. SBI Securities Co. Ltd. now owns 876 shares of the company's stock worth $65,000 after purchasing an additional 870 shares during the period. Finally, Whittier Trust Co. acquired a new position in Howard Hughes in the 1st quarter valued at $161,000. Institutional investors own 93.83% of the company's stock.

Howard Hughes Stock Performance

Shares of HHH stock traded up $1.16 during trading on Friday, reaching $78.88. 376,231 shares of the company's stock traded hands, compared to its average volume of 325,456. The firm's 50-day moving average is $71.56 and its 200 day moving average is $70.71. The company has a market capitalization of $4.69 billion, a P/E ratio of 17.26 and a beta of 1.21. Howard Hughes Holdings Inc. has a 1 year low of $61.40 and a 1 year high of $87.77. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.85.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HHH. Piper Sandler reduced 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 note on Friday, May 23rd. JPMorgan Chase & Co. increased their target price on Howard Hughes from $76.00 to $85.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Zacks Research lowered shares of Howard Hughes from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Wall Street Zen cut shares of Howard Hughes from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.