Cibc Bank USA bought a new position in Howard Hughes Corp (NYSE:HHC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,192 shares of the financial services provider’s stock, valued at approximately $555,000.
A number of other hedge funds also recently added to or reduced their stakes in HHC. Point72 Asia Hong Kong Ltd purchased a new stake in Howard Hughes in the 1st quarter worth approximately $114,000. Assetmark Inc. lifted its position in Howard Hughes by 467.0% in the 4th quarter. Assetmark Inc. now owns 1,100 shares of the financial services provider’s stock worth $144,000 after buying an additional 906 shares in the last quarter. Summit Trail Advisors LLC lifted its position in Howard Hughes by 4,694.6% in the 1st quarter. Summit Trail Advisors LLC now owns 169,442 shares of the financial services provider’s stock worth $169,000 after buying an additional 165,908 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in Howard Hughes in the 1st quarter worth approximately $201,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in Howard Hughes by 416.7% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,669 shares of the financial services provider’s stock worth $219,000 after buying an additional 1,346 shares in the last quarter. Institutional investors own 89.31% of the company’s stock.
HHC has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Howard Hughes from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Sandler O’Neill set a $140.00 target price on shares of Howard Hughes and gave the stock a “hold” rating in a research report on Thursday, March 8th. Citigroup initiated coverage on shares of Howard Hughes in a research report on Tuesday, June 19th. They issued a “buy” rating and a $160.00 target price for the company. TheStreet upgraded shares of Howard Hughes from a “c” rating to a “b-” rating in a research report on Wednesday, March 28th. Finally, Jefferies Financial Group initiated coverage on shares of Howard Hughes in a research report on Monday. They issued a “buy” rating and a $170.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Howard Hughes currently has an average rating of “Hold” and a consensus target price of $160.00.
Howard Hughes stock opened at $136.83 on Wednesday. The firm has a market cap of $5.70 billion, a PE ratio of 88.28 and a beta of 1.19. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.94. Howard Hughes Corp has a 1-year low of $114.28 and a 1-year high of $140.38.
Howard Hughes (NYSE:HHC) last released its quarterly earnings results on Tuesday, May 1st. The financial services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.46). The business had revenue of $161.68 million for the quarter, compared to the consensus estimate of $266.77 million. Howard Hughes had a net margin of 15.94% and a return on equity of 2.29%. The firm’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 EPS. research analysts expect that Howard Hughes Corp will post -0.37 EPS for the current year.
Howard Hughes Profile
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.
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