Howard Hughes (NYSE:HHH) COO Andrew Davis Purchases 1,000 Shares of Stock

Key Points

• COO Andrew Davis purchased 1,000 Howard Hughes shares at an average price of $64.49, investing $64,490 and increasing his ownership by 3.17% to 32,530 shares.
• Howard Hughes shares rose 1.4% to $64.63, but remain well below the 52-week high of $91.07. The company has a $3.86 billion market capitalization and a price-to-earnings ratio of 13.38.
• Analysts maintain an overall “Hold” rating with an average price target of $79, while institutional investors and hedge funds own 93.83% of the stock.

Howard Hughes Holdings Inc. (NYSE:HHH - Get Free Report) COO Andrew Davis acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was purchased at an average price of $64.49 per share, with a total value of $64,490.00. Following the completion of the transaction, the chief operating officer owned 32,530 shares of the company's stock, valued at approximately $2,097,859.70. This trade represents a 3.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Howard Hughes Trading Up 1.4%

Howard Hughes stock traded up $0.88 during trading hours on Thursday, reaching $64.63. 647,207 shares of the company's stock traded hands, compared to its average volume of 645,660. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.31 and a current ratio of 2.31. Howard Hughes Holdings Inc. has a fifty-two week low of $60.09 and a fifty-two week high of $91.07. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 13.38 and a beta of 1.14. The firm's 50 day moving average is $65.26 and its 200-day moving average is $65.64.

Howard Hughes (NYSE:HHH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $0.49 by $2.19. The company had revenue of $1.12 billion during the quarter. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The firm's quarterly revenue was up 330.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.22) EPS. On average, analysts predict that Howard Hughes Holdings Inc. will post 4.75 earnings per share for the current year.

Analysts Set New Price Targets

HHH has been the topic of several recent research reports. Weiss Ratings upgraded Howard Hughes from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on Howard Hughes from $76.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Finally, Zacks Research raised Howard Hughes from a "strong sell" rating to a "hold" rating in a research note on Monday, September 14th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Howard Hughes has an average rating of "Hold" and an average target price of $79.00.

Institutional Trading of Howard Hughes

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Howard Hughes in the second quarter valued at approximately $115,766,000. Donald Smith & CO. Inc. bought a new stake in shares of Howard Hughes during the second quarter worth $71,691,000. Flat Footed LLC acquired a new stake in shares of Howard Hughes during the second quarter worth $44,353,683. Norges Bank acquired a new stake in shares of Howard Hughes during the fourth quarter worth $31,957,000. Finally, Bank of America Corp DE bought a new stake in Howard Hughes in the 2nd quarter valued at $21,031,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

About Howard Hughes

Howard Hughes Holdings Inc is a real estate development and management company that creates and operates large-scale master planned communities, mixed-use properties and strategic real estate developments. Its activities include land development, homebuilder lot sales, commercial and multifamily development, retail operations and the management of community amenities and infrastructure.

The company's master planned communities include Summerlin in the Las Vegas area, The Woodlands and Bridgeland in the Houston area, The Woodlands Hills in Texas, Teravalis in the Phoenix area and Ward Village in Honolulu.

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