Howard Hughes (NYSE:HHH) Stock Price Down 7% Following Weak Earnings

Howard Hughes Holdings Inc. (NYSE:HHH) shares fell 7% during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $76.27 and last traded at $76.4930. 386,501 shares were traded during trading, an increase of 15% from the average session volume of 335,244 shares. The stock had previously closed at $82.25.

The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.21). Howard Hughes had a return on equity of 11.06% and a net margin of 14.95%.The firm had revenue of $624.45 million for the quarter. During the same quarter last year, the firm earned $3.25 EPS. Howard Hughes’s revenue for the quarter was down 36.5% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Zacks Research cut shares of Howard Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Howard Hughes in a research report on Monday, December 29th. Finally, Wall Street Zen raised Howard Hughes from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Howard Hughes presently has a consensus rating of “Hold” and an average price target of $83.33.

Insider Buying and Selling

In other Howard Hughes news, Director R Scot Sellers purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were acquired at an average price of $77.94 per share, with a total value of $389,700.00. Following the transaction, the director owned 67,517 shares in the company, valued at $5,262,274.98. The trade was a 8.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Ann Tighe sold 6,000 shares of Howard Hughes stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $88.83, for a total value of $532,980.00. Following the transaction, the director owned 13,495 shares of the company’s stock, valued at $1,198,760.85. This trade represents a 30.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 48.00% of the company’s stock.

Hedge Funds Weigh In On Howard Hughes

A number of hedge funds and other institutional investors have recently modified their holdings of HHH. Signaturefd LLC raised its stake in Howard Hughes by 41.5% in the 4th quarter. Signaturefd LLC now owns 423 shares of the company’s stock valued at $34,000 after acquiring an additional 124 shares during the period. Arizona State Retirement System boosted its position in Howard Hughes by 1.4% during the third quarter. Arizona State Retirement System now owns 9,666 shares of the company’s stock worth $794,000 after purchasing an additional 130 shares during the period. Huntington National Bank increased its stake in shares of Howard Hughes by 15.5% in the second quarter. Huntington National Bank now owns 1,079 shares of the company’s stock worth $73,000 after purchasing an additional 145 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Howard Hughes by 0.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 27,193 shares of the company’s stock valued at $2,169,000 after purchasing an additional 147 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Howard Hughes by 28.9% in the third quarter. EverSource Wealth Advisors LLC now owns 665 shares of the company’s stock valued at $55,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Howard Hughes Stock Down 7.1%

The stock’s 50 day moving average is $81.52 and its 200 day moving average is $80.80. The company has a market capitalization of $4.54 billion, a PE ratio of 14.91 and a beta of 1.24. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.18 and a current ratio of 1.18.

Howard Hughes Company Profile

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. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.