Resolute Capital Asset Partners LLC Grows Holdings in Howard Hughes Holdings Inc. $HHH

Key Points

• Resolute Capital Asset Partners LLC increased its stake in Howard Hughes Holdings Inc. by 22.2%, owning 55,000 shares, making it the 15th largest holding in their portfolio.
• Several institutional investors have also significantly boosted their holdings in Howard Hughes, with some increasing their stakes by over 910%, indicating growing interest in the company.
• Howard Hughes Holdings has faced rating downgrades from analysts, with JPMorgan Chase lowering their price target from $82.00 to $76.00, while other firms have also adjusted their targets downward.

Resolute Capital Asset Partners LLC grew its holdings in Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 22.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,000 shares of the company's stock after purchasing an additional 10,000 shares during the quarter. Howard Hughes comprises about 2.3% of Resolute Capital Asset Partners LLC's portfolio, making the stock its 15th biggest position. Resolute Capital Asset Partners LLC owned approximately 0.11% of Howard Hughes worth $4,074,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in Howard Hughes in the fourth quarter valued at approximately $511,000. Wells Fargo & Company MN increased its stake in shares of Howard Hughes by 1.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,707 shares of the company's stock valued at $824,000 after acquiring an additional 173 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Howard Hughes by 5.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,679 shares of the company's stock valued at $1,052,000 after acquiring an additional 683 shares during the period. Invesco Ltd. boosted its stake in Howard Hughes by 0.4% during the fourth quarter. Invesco Ltd. now owns 85,907 shares of the company's stock worth $6,608,000 after acquiring an additional 332 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Howard Hughes in the fourth quarter worth $422,000. Institutional investors and hedge funds own 93.83% of the company's stock.

Howard Hughes Stock Up 1.0%

Shares of Howard Hughes stock traded up $0.75 on Wednesday, hitting $75.70. The company had a trading volume of 292,395 shares, compared to its average volume of 464,858. Howard Hughes Holdings Inc. has a 1 year low of $61.40 and a 1 year 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 stock has a 50 day moving average of $70.22 and a 200-day moving average of $70.66. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 16.56 and a beta of 1.22.

Analyst Upgrades and Downgrades

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

Howard Hughes 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.