Howard Hughes Holdings Inc. (NYSE:HHH) Shares Sold by Donald Smith & CO. Inc.

Key Points

• Donald Smith & CO. Inc. reduced its stake in Howard Hughes Holdings Inc. (NYSE:HHH) by 5.5%, now holding approximately 2.8% of the company, worth around $116.3 million.
• Several institutional investors made adjustments to their positions in HHH, with SBI Securities Co. Ltd. increasing its holdings by an astonishing 14,500% in the first quarter.
• Analysts have lowered price targets for HHH, with Piper Sandler reducing its target from $105.00 to $85.00 and BMO Capital Markets from $85.00 to $80.00, indicating a shift in market sentiment.

Donald Smith & CO. Inc. reduced its holdings in Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,570,008 shares of the company's stock after selling 91,272 shares during the period. Howard Hughes comprises 2.8% of Donald Smith & CO. Inc.'s holdings, making the stock its 14th biggest position. Donald Smith & CO. Inc. owned about 3.12% of Howard Hughes worth $116,306,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HHH. Egerton Capital UK LLP boosted its holdings in shares of Howard Hughes by 169.5% in the 1st quarter. Egerton Capital UK LLP now owns 1,196,288 shares of the company's stock valued at $88,621,000 after acquiring an additional 752,325 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Howard Hughes by 48.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 828,317 shares of the company's stock valued at $63,715,000 after acquiring an additional 269,402 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Howard Hughes in the 4th quarter valued at $15,187,000. Dendur Capital LP boosted its holdings in shares of Howard Hughes by 22.7% in the 4th quarter. Dendur Capital LP now owns 813,200 shares of the company's stock valued at $62,551,000 after acquiring an additional 150,200 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Howard Hughes by 92.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 266,590 shares of the company's stock valued at $20,506,000 after acquiring an additional 128,231 shares during the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

Howard Hughes Price Performance

NYSE:HHH traded down $1.10 during trading hours on Thursday, reaching $73.45. 399,392 shares of the company were exchanged, compared to its average volume of 399,038. The company has a current ratio of 1.18, a quick ratio of 1.41 and a debt-to-equity ratio of 1.85. The stock's 50-day moving average is $69.53 and its 200-day moving average is $70.81. The firm has a market cap of $4.36 billion, a PE ratio of 16.07 and a beta of 1.22. Howard Hughes Holdings Inc. has a twelve month low of $61.40 and a twelve month high of $87.77.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HHH shares. Piper Sandler dropped their price objective 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 downgraded shares of Howard Hughes from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. BMO Capital Markets lowered their price target on shares of Howard Hughes from $85.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. downgraded shares of Howard Hughes from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $82.00 to $76.00 in a report on Monday, June 23rd.

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.