Sowell Financial Services LLC Buys 14,722 Shares of Howard Hughes Holdings Inc. $HHH

Key Points

• Sowell Financial Services increased its Howard Hughes stake by 14% in the third quarter, buying 14,722 shares to hold 119,579 shares valued at approximately $8.8 million. Institutional investors collectively own 93.83% of the company.
• Analyst sentiment is generally positive, with Howard Hughes receiving a “Moderate Buy” consensus rating and an average price target of $81. Ratings included one Strong Buy, one Buy and two Holds.
• Howard Hughes reported strong quarterly results, posting $2.68 in EPS versus a $0.49 estimate and revenue of $1.12 billion, up 330.2% year over year. The stock recently traded at $69.34, while an executive also purchased 1,000 shares.

Sowell Financial Services LLC increased its stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 14.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 119,579 shares of the company's stock after purchasing an additional 14,722 shares during the period. Sowell Financial Services LLC owned 0.20% of Howard Hughes worth $8,803,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HHH. Annex Advisory Services LLC lifted its holdings in shares of Howard Hughes by 12.0% in the third quarter. Annex Advisory Services LLC now owns 24,036 shares of the company's stock worth $1,770,000 after buying an additional 2,575 shares in the last quarter. TT Capital Management LLC bought a new position in Howard Hughes in the 3rd quarter valued at $206,000. Draper Asset Management LLC purchased a new position in shares of Howard Hughes during the 3rd quarter valued at $4,440,000. GAMMA Investing LLC grew its position in shares of Howard Hughes by 74.5% during the 3rd quarter. GAMMA Investing LLC now owns 452 shares of the company's stock valued at $33,000 after purchasing an additional 193 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Howard Hughes during the 2nd quarter valued at $195,000. Institutional investors own 93.83% of the company's stock.

Analysts Set New Price Targets

HHH has been the topic of several research analyst reports. Zacks Research raised shares of Howard Hughes from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 13th. Piper Sandler dropped their price objective on Howard Hughes from $100.00 to $83.00 and set an "overweight" rating for the company in a research note on Monday, October 12th. JPMorgan Chase & Co. lifted their price objective on Howard Hughes from $76.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded Howard Hughes from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Howard Hughes has an average rating of "Moderate Buy" and a consensus target price of $81.00.

Insider Transactions at Howard Hughes

In other Howard Hughes news, COO Andrew D. Davis acquired 1,000 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was purchased at an average cost of $64.49 per share, for a total transaction of $64,490.00. Following the acquisition, the chief operating officer owned 32,530 shares in the company, valued at $2,097,859.70. The trade was a 3.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Tighe sold 13,495 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $67.25, for a total transaction of $907,538.75. The disclosure for this sale is available in the SEC filing. 47.70% of the stock is currently owned by corporate insiders.

Howard Hughes Trading Up 4.0%

Shares of Howard Hughes stock opened at $69.34 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.31 and a quick ratio of 2.31. Howard Hughes Holdings Inc. has a 1 year low of $60.09 and a 1 year high of $91.07. The firm has a market cap of $4.14 billion, a PE ratio of 13.50 and a beta of 1.14. The company has a 50 day simple moving average of $67.01 and a two-hundred day simple moving average of $66.63.

Howard Hughes (NYSE:HHH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $2.19. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The company had revenue of $1.12 billion during the quarter. During the same period in the prior year, the firm posted ($0.22) earnings per share. The business's revenue was up 330.2% on a year-over-year basis. Analysts expect that Howard Hughes Holdings Inc. will post 4.47 earnings per share for the current fiscal year.

About Howard Hughes

Howard Hughes Holdings Inc NYSE: HHH is a real estate development and operating company focused primarily on master planned communities, residential and commercial development, and the management of related real estate assets. The company develops large-scale communities that may include housing, retail, offices, schools, parks and other amenities, while generating revenue through land sales, development activities and property operations.

The company's master planned community portfolio has included Summerlin in the Las Vegas area; Bridgeland, The Woodlands and The Woodlands Hills in the greater Houston area; and other communities and real estate assets in selected U.S.

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