20,432 Shares in Howard Hughes Holdings Inc. (NYSE:HHH) Bought by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management has acquired a new stake in Howard Hughes Holdings Inc. (NYSE: HHH), purchasing 20,432 shares valued at approximately $1.5 million.
• Several hedge funds made significant changes to their holdings in HHH, with Larson Financial Group increasing their position by 2,290.9% during Q1.
• Howard Hughes reported a quarterly EPS of $0.21, beating estimates, with revenue up 27.3% compared to last year, suggesting strong financial performance.

Picton Mahoney Asset Management acquired a new stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,432 shares of the company's stock, valued at approximately $1,514,000.

Several other institutional investors have also bought and sold shares of HHH. Larson Financial Group LLC grew its stake in Howard Hughes by 2,290.9% in the 1st quarter. Larson Financial Group LLC now owns 526 shares of the company's stock worth $39,000 after acquiring an additional 504 shares in the last quarter. SBI Securities Co. Ltd. increased its position in Howard Hughes by 14,500.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 876 shares of the company's stock valued at $65,000 after purchasing an additional 870 shares during the period. Huntington National Bank increased its position in Howard Hughes by 335.5% during the 4th quarter. Huntington National Bank now owns 932 shares of the company's stock valued at $72,000 after purchasing an additional 718 shares during the period. Whittier Trust Co. bought a new stake in shares of Howard Hughes in the 1st quarter valued at about $161,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Howard Hughes by 116.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,340 shares of the company's stock valued at $174,000 after buying an additional 1,260 shares in the last quarter. Institutional investors own 93.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HHH. JPMorgan Chase & Co. cut shares of 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. 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 research report on Friday, May 23rd. Finally, BMO Capital Markets dropped their target price on shares of Howard Hughes from $85.00 to $80.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th.

Howard Hughes Stock Performance

Shares of HHH stock traded down $1.06 during trading hours on Friday, hitting $67.67. The company's stock had a trading volume of 455,563 shares, compared to its average volume of 381,942. The company has a 50 day moving average of $68.96 and a 200 day moving average of $71.14. The stock has a market cap of $3.41 billion, a PE ratio of 12.99 and a beta of 1.22. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.84. Howard Hughes Holdings Inc. has a 12-month low of $59.83 and a 12-month high of $87.77.

Howard Hughes (NYSE:HHH - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.13 by $0.08. The business had revenue of $199.33 million for the quarter, compared to the consensus estimate of $187.43 million. Howard Hughes had a net margin of 14.27% and a return on equity of 10.21%. The firm's revenue for the quarter was up 27.3% compared to the same quarter last year. On average, sell-side analysts forecast that Howard Hughes Holdings Inc. will post 3.7 EPS for the current fiscal year.

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.