Howard Hughes Holdings Inc. $HHH Stake Lessened by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC reduced its stake in Howard Hughes Holdings Inc. by 56.8% in the first quarter, now owning 13,331 shares valued at approximately $988,000.
• A number of hedge funds, including Caitong International and SBI Securities, significantly increased their stakes in Howard Hughes during the same period, showcasing mixed investor sentiment.
• Analysts have recently downgraded their ratings on Howard Hughes, with JPMorgan lowering their target price from $82 to $76, reflecting cautious outlooks for the stock's performance.

Redwood Investment Management LLC trimmed its stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 56.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,331 shares of the company's stock after selling 17,558 shares during the quarter. Redwood Investment Management LLC's holdings in Howard Hughes were worth $988,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Howard Hughes by 910.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 394 shares of the company's stock valued at $29,000 after purchasing an additional 355 shares in the last quarter. National Bank of Canada FI bought a new stake in Howard Hughes in the first quarter valued at about $37,000. Larson Financial Group LLC raised its stake in Howard Hughes by 2,290.9% during the first quarter. Larson Financial Group LLC now owns 526 shares of the company's stock valued at $39,000 after buying an additional 504 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Howard Hughes by 14,500.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 876 shares of the company's stock worth $65,000 after buying an additional 870 shares during the last quarter. Finally, Whittier Trust Co. bought a new position in Howard Hughes during the 1st quarter worth approximately $161,000. 93.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HHH. JPMorgan Chase & Co. downgraded Howard Hughes from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $82.00 to $76.00 in a report on Monday, June 23rd. Zacks Research lowered shares of Howard Hughes from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Piper Sandler dropped their target price on shares of Howard Hughes from $105.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Wall Street Zen lowered shares of Howard Hughes from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, BMO Capital Markets lowered their price objective on shares of Howard Hughes from $85.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.33.

Howard Hughes Price Performance

NYSE HHH opened at $75.70 on Thursday. The company has a 50-day moving average price of $70.35 and a two-hundred day moving average price of $70.70. Howard Hughes Holdings Inc. has a 52 week low of $61.40 and a 52 week high of $87.77. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 16.56 and a beta of 1.22. 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 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.

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