Howard Hughes (NYSE:HHH) Shares Climb 3.6% - What's Next?

Key Points

• Howard Hughes shares rose 3.6% to about $70.92, although trading volume was 83% below the average session level.
• Analysts remain cautious: JPMorgan raised its price target to $79 while maintaining a neutral rating, and the overall analyst consensus is Hold with a $79 target.
• The company reported strong quarterly results, including $2.68 EPS versus a $0.49 estimate and 330.2% year-over-year revenue growth. An executive also purchased shares, while institutional investors own 93.83% of the stock.

Howard Hughes Holdings Inc. (NYSE:HHH - Get Free Report)'s share price traded up 3.6% on Monday. The company traded as high as $69.87 and last traded at $70.9170. 81,448 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 470,428 shares. The stock had previously closed at $68.43.

Analysts Set New Price Targets

A number of research firms recently weighed in on HHH. JPMorgan Chase & Co. upped their target price on shares of Howard Hughes from $76.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Weiss Ratings raised Howard Hughes from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. 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 currently has a consensus rating of "Hold" and a consensus price target of $79.00.

Howard Hughes Stock Performance

The company's 50-day simple moving average is $65.22 and its 200 day simple moving average is $65.65. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.35. The stock has a market cap of $4.39 billion, a P/E ratio of 14.87 and a beta of 1.14.

Howard Hughes (NYSE:HHH - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $2.68 earnings per share (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 business's revenue was up 330.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.22) earnings per share. As a group, sell-side analysts expect that Howard Hughes Holdings Inc. will post 4.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary Tighe sold 13,495 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total value of $907,538.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew D. Davis purchased 1,000 shares of the business's stock in a transaction on Wednesday, September 23rd. The stock was purchased at an average cost of $64.49 per share, with a total value of $64,490.00. Following the completion of the acquisition, the chief operating officer owned 32,530 shares in the company, valued at approximately $2,097,859.70. This trade represents a 3.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 47.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP bought a new stake in Howard Hughes during the second quarter valued at $31,000. Huntington National Bank raised its holdings in shares of Howard Hughes by 134.1% in the 4th quarter. Huntington National Bank now owns 494 shares of the company's stock valued at $39,000 after acquiring an additional 283 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Howard Hughes by 688.4% during the 2nd quarter. Versant Capital Management Inc now owns 883 shares of the company's stock valued at $63,000 after acquiring an additional 771 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Howard Hughes by 245.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,288 shares of the company's stock valued at $103,000 after acquiring an additional 915 shares during the last quarter. Finally, Nykredit A S purchased a new position in shares of Howard Hughes during the second quarter worth about $110,000. Institutional investors own 93.83% of the company's stock.

Howard Hughes Company Profile

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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