Lazard Asset Management LLC Takes $1.43 Million Position in Howard Hughes Holdings Inc. $HHH

Key Points

• Lazard Asset Management acquired 22,638 shares of Howard Hughes Holdings, valued at approximately $1.43 million. Institutional investors collectively own 93.83% of the company.
• Howard Hughes reported quarterly EPS of $0.14, beating estimates of $0.08, while revenue rose 18.4% year over year to $235.92 million.
• The stock opened at $65.71, near its 52-week low, while analysts maintain a predominantly negative view: one Hold rating and two Sell ratings, with an average price target of $79.

Lazard Asset Management LLC bought a new stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,638 shares of the company's stock, valued at approximately $1,432,000.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC lifted its stake in Howard Hughes by 41.5% in the fourth quarter. Signaturefd LLC now owns 423 shares of the company's stock valued at $34,000 after purchasing an additional 124 shares during the last quarter. Huntington National Bank grew its holdings in Howard Hughes by 134.1% during the fourth quarter. Huntington National Bank now owns 494 shares of the company's stock valued at $39,000 after purchasing an additional 283 shares during the period. EverSource Wealth Advisors LLC increased its position in Howard Hughes by 191.5% in the second quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company's stock worth $35,000 after buying an additional 339 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Howard Hughes in the fourth quarter worth $43,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Howard Hughes in the fourth quarter valued at $43,000. Institutional investors own 93.83% of the company's stock.

Howard Hughes Stock Up 0.8%

Howard Hughes stock opened at $65.71 on Wednesday. The firm has a 50 day simple moving average of $68.13 and a 200 day simple moving average of $69.36. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.97. Howard Hughes Holdings Inc. has a 1-year low of $61.01 and a 1-year high of $91.07. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 32.21 and a beta of 1.14.

Howard Hughes (NYSE:HHH - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. The firm had revenue of $235.92 million for the quarter. Howard Hughes had a return on equity of 5.41% and a net margin of 8.04%.The company's revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. On average, analysts predict that Howard Hughes Holdings Inc. will post 2.77 earnings per share for the current year.

Insider Buying and Selling

In other Howard Hughes news, insider James Carman sold 1,500 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $64.20, for a total value of $96,300.00. Following the completion of the transaction, the insider owned 22,096 shares in the company, valued at $1,418,563.20. This trade represents a 6.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 48.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen raised Howard Hughes from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings reissued a "sell (d)" rating on shares of Howard Hughes in a report on Friday, July 17th. Zacks Research cut Howard Hughes from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Howard Hughes from $76.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Sell" and an average target price of $79.00.

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. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.

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