Howard Hughes (NYSE:HHH) Sets New 12-Month Low - What's Next?

Key Points

• Howard Hughes shares hit a new 52-week low of $61.13, trading well below the 50-day ($76.61) and 200-day ($80.16) moving averages and carrying a market cap of roughly $3.68 billion.
• Analysts maintain a consensus Hold rating with a $83.33 price target even after the company beat quarterly EPS estimates ($1.57 vs. $0.31) while reporting a 36.5% year-over-year revenue decline.
• C-suite insiders increased their stakes recently— a director bought 5,000 shares at $77.94 and the general counsel bought 1,260 shares at $64.45—bringing insider ownership to about 48%.

Howard Hughes Holdings Inc. (NYSE:HHH - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $61.13 and last traded at $61.3690, with a volume of 77692 shares changing hands. The stock had previously closed at $62.06.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Howard Hughes in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $83.33.

Howard Hughes Stock Down 0.6%

The company has a debt-to-equity ratio of 1.73, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market capitalization of $3.68 billion, a PE ratio of 29.29 and a beta of 1.25. The business's 50 day simple moving average is $76.61 and its 200 day simple moving average is $80.16.

Howard Hughes (NYSE:HHH - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $0.31 by $1.26. The business had revenue of $624.45 million during the quarter. Howard Hughes had a net margin of 8.40% and a return on equity of 5.54%. The business's quarterly revenue was down 36.5% on a year-over-year basis. During the same period last year, the company earned $3.25 EPS. As a group, analysts anticipate that Howard Hughes Holdings Inc. will post 3.7 earnings per share for the current fiscal year.

Insider Activity at Howard Hughes

In other Howard Hughes news, Director R Scot Sellers bought 5,000 shares of the business's stock in a transaction on Tuesday, December 23rd. The stock was bought at an average price of $77.94 per share, with a total value of $389,700.00. Following the completion of the purchase, the director directly owned 67,517 shares in the company, valued at $5,262,274.98. The trade was a 8.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Joseph Valane bought 1,260 shares of Howard Hughes stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $64.45 per share, for a total transaction of $81,207.00. Following the transaction, the general counsel directly owned 29,209 shares of the company's stock, valued at approximately $1,882,520.05. This trade represents a 4.51% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 48.00% of the company's stock.

Institutional Trading of Howard Hughes

Several institutional investors and hedge funds have recently bought and sold shares of HHH. Allworth Financial LP boosted its stake in Howard Hughes by 134.2% during the second quarter. Allworth Financial LP now owns 363 shares of the company's stock worth $25,000 after buying an additional 208 shares during the period. TD Waterhouse Canada Inc. increased its position in shares of Howard Hughes by 291.0% during the second quarter. TD Waterhouse Canada Inc. now owns 391 shares of the company's stock valued at $27,000 after acquiring an additional 291 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Howard Hughes in the 3rd quarter valued at approximately $31,000. Signaturefd LLC lifted its holdings in shares of Howard Hughes by 41.5% in the 4th quarter. Signaturefd LLC now owns 423 shares of the company's stock worth $34,000 after acquiring an additional 124 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Howard Hughes by 191.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company's stock worth $35,000 after acquiring an additional 339 shares during the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

About Howard Hughes

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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