Howard Hughes (NYSE:HHH) Sets New 1-Year Low - Here's Why

Key Points

• Howard Hughes shares hit a new 52-week low, falling to $60.09 and last trading near $61.76, below the 50-day and 200-day moving averages of roughly $65.80.
• Analysts remain cautious: all three tracked analysts rate the stock “Hold,” with a consensus price target of $79.00, despite JPMorgan raising its target to $79.
• The company reported stronger-than-expected quarterly results, including EPS of $2.68 versus a $0.49 consensus estimate and revenue growth of 330.2% year over year. Institutional investors own 93.83% of the stock, while an insider recently sold about $908,000 in shares.

Shares of Howard Hughes Holdings Inc. (NYSE:HHH - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $60.09 and last traded at $61.7560, with a volume of 1352612 shares traded. The stock had previously closed at $60.22.

Wall Street Analysts Forecast Growth

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

Howard Hughes Price Performance

The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 12.99 and a beta of 1.14. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.31 and a current ratio of 2.31. The company has a 50-day simple moving average of $65.83 and a two-hundred day simple moving average of $65.80.

Howard Hughes (NYSE:HHH - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $0.49 by $2.19. The company had revenue of $1.12 billion during the quarter. Howard Hughes had a return on equity of 7.51% and a net margin of 12.31%.The company's quarterly revenue was up 330.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.22) EPS. As a group, equities research analysts forecast that Howard Hughes Holdings Inc. will post 4.75 EPS for the current year.

Insider Transactions at Howard Hughes

In related news, Director Mary Tighe sold 13,495 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $67.25, for a total value of $907,538.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 47.70% of the company's stock.

Institutional Trading of Howard Hughes

A number of hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Howard Hughes during the 2nd quarter worth approximately $195,000. Squarepoint Ops LLC lifted its holdings in Howard Hughes by 520.5% during the 2nd quarter. Squarepoint Ops LLC now owns 83,379 shares of the company's stock valued at $5,961,000 after purchasing an additional 69,941 shares during the last quarter. Baird Financial Group Inc. boosted its position in Howard Hughes by 3.6% during the second quarter. Baird Financial Group Inc. now owns 7,771 shares of the company's stock worth $556,000 after purchasing an additional 272 shares during the period. Nykredit A S bought a new position in Howard Hughes during the second quarter worth $110,000. Finally, Corient Private Wealth LP acquired a new position in shares of Howard Hughes in the second quarter valued at $654,000. 93.83% of the stock is 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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