Russell Investments Group Ltd. Lowers Position in Howard Hughes Holdings Inc. $HHH

Key Points

• Russell Investments Group Ltd. reduced its holdings in Howard Hughes Holdings Inc. by 13.0%, selling 44,358 shares and now owning approximately 297,797 shares worth $22.1 million.
• Several institutional investors have increased their stakes in Howard Hughes, with 93.83% of the stock now owned by institutional investors.
• Analysts have varied in their ratings, with Piper Sandler lowering its price target from $105 to $85 and BMO Capital Markets reducing its price objective from $85 to $80.

Russell Investments Group Ltd. cut its position in Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 13.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 297,797 shares of the company's stock after selling 44,358 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.59% of Howard Hughes worth $22,061,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HHH. Dimensional Fund Advisors LP increased its holdings in shares of Howard Hughes by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,485,447 shares of the company's stock valued at $191,180,000 after acquiring an additional 24,360 shares in the last quarter. Egerton Capital UK LLP increased its holdings in shares of Howard Hughes by 169.5% during the first 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 in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Howard Hughes by 48.2% during the fourth 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 in the last quarter. Dendur Capital LP increased its holdings in shares of Howard Hughes by 22.7% during the fourth 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 in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Howard Hughes by 2.0% during the first quarter. Victory Capital Management Inc. now owns 300,963 shares of the company's stock valued at $22,295,000 after acquiring an additional 5,872 shares in the last quarter. 93.83% of the stock is currently owned by institutional investors.

Howard Hughes Stock Performance

Howard Hughes stock traded down $0.1650 during mid-day trading on Thursday, hitting $73.4550. The company had a trading volume of 42,416 shares, compared to its average volume of 466,915. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.85. Howard Hughes Holdings Inc. has a 12-month low of $61.40 and a 12-month high of $87.77. The company's fifty day moving average is $69.85 and its 200-day moving average is $70.74. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 16.07 and a beta of 1.22.

Analyst Upgrades and Downgrades

HHH has been the topic of several recent analyst reports. Piper Sandler cut 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. BMO Capital Markets cut their price objective 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. Wall Street Zen downgraded shares of Howard Hughes from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. downgraded shares of Howard Hughes from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $82.00 to $76.00 in a report on Monday, June 23rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.