Howard Hughes (NYSE:HHH) Shares Gap Up After Insider Buying Activity

Howard Hughes Holdings Inc. (NYSE:HHH) gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $64.58, but opened at $66.65. Howard Hughes shares last traded at $65.8040, with a volume of 56,063 shares traded.

Specifically, COO Andrew D. Davis acquired 1,000 shares of Howard Hughes stock in a transaction that occurred on Wednesday, September 23rd. The shares were purchased at an average price of $64.49 per share, for a total transaction of $64,490.00. Following the completion of the transaction, the chief operating officer owned 32,530 shares in the company, valued at $2,097,859.70. This represents a 3.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

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

Howard Hughes Stock Performance

The firm has a 50-day moving average price of $65.26 and a 200 day moving average price of $65.64. The firm has a market capitalization of $3.93 billion, a PE ratio of 13.31 and a beta of 1.14. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.35.

Howard Hughes (NYSE:HHH) last posted its earnings results on Wednesday, August 5th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $2.19. The firm had revenue of $1.12 billion for the quarter. Howard Hughes had a return on equity of 7.51% and a net margin of 12.31%.Howard Hughes’s revenue was up 330.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.22) EPS. Research analysts expect that Howard Hughes Holdings Inc. will post 4.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Howard Hughes by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,822,522 shares of the company’s stock valued at $178,549,000 after purchasing an additional 208,617 shares in the last quarter. BlackRock Inc. purchased a new position in Howard Hughes in the 2nd quarter valued at approximately $115,766,000. Donald Smith & CO. Inc. purchased a new position in Howard Hughes in the 2nd quarter valued at approximately $71,691,000. Flat Footed LLC acquired a new position in shares of Howard Hughes in the second quarter worth $44,353,683. Finally, Crcm LP grew its stake in shares of Howard Hughes by 9.3% in the fourth quarter. Crcm LP now owns 612,839 shares of the company’s stock worth $48,886,000 after acquiring an additional 52,126 shares in the last quarter. Hedge funds and other 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.