Howard Hughes (NYSE:HHH) Releases Earnings Results, Beats Expectations By $2.19 EPS

Howard Hughes (NYSE:HHH) released its quarterly earnings data on Wednesday. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $2.19, FiscalAI reports. The firm had revenue of $1.12 billion during the quarter. Howard Hughes had a net margin of 8.04% and a return on equity of 5.41%.

Howard Hughes Trading Up 0.2%

Howard Hughes stock traded up $0.10 during midday trading on Wednesday, reaching $65.75. 322,821 shares of the stock traded hands, compared to its average volume of 441,835. The firm has a market cap of $3.92 billion, a PE ratio of 32.23 and a beta of 1.14. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.97. The company has a 50-day simple moving average of $68.13 and a two-hundred day simple moving average of $69.36. Howard Hughes has a 12-month low of $61.01 and a 12-month high of $91.07.

Wall Street Analysts Forecast Growth

HHH has been the topic of several analyst reports. Wall Street Zen raised shares of Howard Hughes from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research downgraded Howard Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Howard Hughes in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Howard Hughes currently has a consensus rating of “Sell” and a consensus price target of $79.00.

Insider Activity

In other news, insider James Carman sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $64.20, for a total value of $96,300.00. Following the completion of the transaction, the insider owned 22,096 shares of the company’s stock, valued at approximately $1,418,563.20. This trade represents a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 48.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its stake in shares of 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 buying an additional 124 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Howard Hughes by 191.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company’s stock valued at $35,000 after purchasing an additional 339 shares during the last quarter. 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 purchasing an additional 283 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Howard Hughes during the 4th quarter worth $43,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Howard Hughes during the fourth quarter worth $43,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

About Howard Hughes

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.