Donald Smith & CO. Inc. Grows Stake in Howard Hughes Holdings Inc. (NYSE:HHH)

Donald Smith & CO. Inc. boosted its position in shares of Howard Hughes Holdings Inc. (NYSE:HHH - Free Report) by 62.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,023,279 shares of the company's stock after purchasing an additional 394,191 shares during the quarter. Howard Hughes accounts for about 2.2% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 17th biggest holding. Donald Smith & CO. Inc. owned about 2.04% of Howard Hughes worth $87,542,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in HHH. International Assets Investment Management LLC acquired a new position in shares of Howard Hughes during the 4th quarter worth approximately $44,000. Baker Avenue Asset Management LP bought a new position in shares of Howard Hughes during the third quarter worth approximately $45,000. Citigroup Inc. acquired a new stake in shares of Howard Hughes in the third quarter valued at approximately $48,000. Baystate Wealth Management LLC bought a new stake in shares of Howard Hughes in the fourth quarter valued at approximately $68,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Howard Hughes during the third quarter worth approximately $73,000. Institutional investors own 93.83% of the company's stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut their target price on Howard Hughes from $90.00 to $84.00 and set an "overweight" rating for the company in a research report on Tuesday, April 16th.

Howard Hughes Price Performance

HHH stock traded up $1.18 during mid-day trading on Monday, hitting $65.60. The stock had a trading volume of 390,434 shares, compared to its average volume of 309,404. The firm has a fifty day simple moving average of $70.35 and a 200 day simple moving average of $74.58. The firm has a market capitalization of $3.30 billion, a P/E ratio of -5.89 and a beta of 1.48. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.73. Howard Hughes Holdings Inc. has a 52 week low of $59.00 and a 52 week high of $86.72.

Howard Hughes (NYSE:HHH - Get Free Report) last announced 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. Howard Hughes had a negative net margin of 53.88% and a negative return on equity of 0.62%. The business had revenue of $335.84 million for the quarter, compared to analysts' expectations of $318.32 million. As a group, research analysts forecast that Howard Hughes Holdings Inc. will post 2.69 EPS for the current year.

Insider Activity

In other news, insider Heath Melton sold 1,926 shares of the business's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $72.95, for a total transaction of $140,501.70. Following the completion of the transaction, the insider now 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 through this link. Corporate insiders own 33.00% of the company's stock.

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.