Howard Hughes (NYSE:HHH) Reaches New 12-Month Low on Analyst Downgrade

Howard Hughes Holdings Inc. (NYSE:HHH - Get Free Report) shares hit a new 52-week low during trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $90.00 to $84.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Howard Hughes traded as low as $60.06 and last traded at $60.14, with a volume of 53415 shares. The stock had previously closed at $61.57.

Separately, TheStreet raised shares of Howard Hughes from a "d+" rating to a "c-" rating in a report on Friday, December 22nd.

Insiders Place Their Bets

In related news, insider Heath Melton sold 1,926 shares of the business's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $72.95, for a total value of $140,501.70. Following the sale, the insider now directly owns 9,274 shares of the company's stock, valued at approximately $676,538.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 33.00% of the company's stock.

Institutional Investors Weigh In On Howard Hughes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV acquired a new position in Howard Hughes in the 4th quarter valued at about $38,000. International Assets Investment Management LLC bought a new stake in Howard Hughes in the 4th quarter valued at about $44,000. Baker Avenue Asset Management LP bought a new stake in Howard Hughes in the 3rd quarter valued at about $45,000. Citigroup Inc. bought a new stake in Howard Hughes in the 3rd quarter valued at about $48,000. Finally, Baystate Wealth Management LLC bought a new stake in Howard Hughes in the 4th quarter valued at about $68,000. 93.83% of the stock is owned by institutional investors.

Howard Hughes Stock Down 3.0 %

The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market cap of $3.00 billion, a P/E ratio of -5.37 and a beta of 1.48. The stock's fifty day simple moving average is $72.99 and its 200-day simple moving average is $75.03.

Howard Hughes (NYSE:HHH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.25. The firm had revenue of $335.84 million during the quarter, compared to the consensus estimate of $318.32 million. Howard Hughes had a negative net margin of 53.88% and a negative return on equity of 0.62%. As a group, research analysts forecast that Howard Hughes Holdings Inc. will post 3.63 earnings per share for the current fiscal year.

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.