IFC Advisors LLC Takes $3.56 Million Position in Howard Hughes Holdings Inc. $HHH

Key Points

• IFC Advisors LLC has acquired a new stake worth approximately $3.56 million in Howard Hughes Holdings Inc., purchasing 52,783 shares in the second quarter.
• Several institutional investors increased their positions significantly in Howard Hughes, with Millennium Management LLC raising its holdings by 2,368.8% in the first quarter.
• Analysts have updated their ratings on Howard Hughes, with some upgrading to a strong-buy and setting an average price target of $83.33.

IFC Advisors LLC purchased a new position in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 52,783 shares of the company's stock, valued at approximately $3,563,000. IFC Advisors LLC owned 0.10% of Howard Hughes as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in HHH. Egerton Capital UK LLP boosted its stake in Howard Hughes by 169.5% in the 1st quarter. Egerton Capital UK LLP now owns 1,196,288 shares of the company's stock worth $88,621,000 after purchasing an additional 752,325 shares during the period. Millennium Management LLC raised its holdings in shares of Howard Hughes by 2,368.8% during the 1st quarter. Millennium Management LLC now owns 165,926 shares of the company's stock valued at $12,292,000 after buying an additional 159,205 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Howard Hughes by 24.8% during the 1st quarter. American Century Companies Inc. now owns 779,879 shares of the company's stock valued at $57,773,000 after buying an additional 155,110 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in shares of Howard Hughes during the 1st quarter valued at about $8,226,000. Finally, Royal Bank of Canada raised its holdings in shares of Howard Hughes by 1,900.6% during the 1st quarter. Royal Bank of Canada now owns 99,248 shares of the company's stock valued at $7,353,000 after buying an additional 94,287 shares in the last quarter. Institutional investors own 93.83% of the company's stock.

Insider Transactions at Howard Hughes

In other Howard Hughes news, Director Anthony Williams sold 1,100 shares of the business's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $79.58, for a total transaction of $87,538.00. Following the completion of the sale, the director owned 8,102 shares of the company's stock, valued at approximately $644,757.16. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 48.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on HHH. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Howard Hughes in a research note on Wednesday, October 8th. Zacks Research raised Howard Hughes from a "hold" rating to a "strong-buy" rating in a report on Monday, September 22nd. JPMorgan Chase & Co. boosted 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. Finally, Wall Street Zen downgraded Howard Hughes from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Howard Hughes has a consensus rating of "Moderate Buy" and an average price target of $83.33.

Howard Hughes Stock Performance

NYSE:HHH opened at $79.33 on Tuesday. The stock has a 50-day simple moving average of $77.91 and a two-hundred day simple moving average of $71.85. Howard Hughes Holdings Inc. has a 52-week low of $61.40 and a 52-week high of $87.77. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $4.71 billion, a PE ratio of 17.36 and a beta of 1.23.

About Howard Hughes

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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