620,418 Shares in Howard Hughes Holdings Inc. $HHH Purchased by Flat Footed LLC

Flat Footed LLC bought a new stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 620,418 shares of the company’s stock, valued at approximately $44,353,683,000. Howard Hughes accounts for approximately 3.4% of Flat Footed LLC’s investment portfolio, making the stock its 4th biggest holding. Flat Footed LLC owned about 1.04% of Howard Hughes at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new stake in shares of Howard Hughes in the fourth quarter valued at approximately $511,000. Royal Bank of Canada increased its position in Howard Hughes by 1,900.6% during the first quarter. Royal Bank of Canada now owns 99,248 shares of the company’s stock worth $7,353,000 after acquiring an additional 94,287 shares during the period. Millennium Management LLC raised its stake in Howard Hughes by 2,368.8% during the 1st quarter. Millennium Management LLC now owns 165,926 shares of the company’s stock valued at $12,292,000 after purchasing an additional 159,205 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Howard Hughes by 26.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 118,589 shares of the company’s stock valued at $8,785,000 after purchasing an additional 25,001 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in Howard Hughes in the 1st quarter valued at $254,000. 93.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on HHH. JPMorgan Chase & Co. raised their price target on shares of Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Zacks Research lowered Howard Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen upgraded Howard Hughes from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $79.00.

Howard Hughes Stock Performance

NYSE:HHH opened at $67.07 on Wednesday. Howard Hughes Holdings Inc. has a 12-month low of $61.01 and a 12-month high of $91.07. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $4.01 billion, a PE ratio of 13.58 and a beta of 1.14. The firm has a 50-day moving average price of $68.63 and a 200 day moving average price of $67.79.

Howard Hughes (NYSE:HHH) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $0.49 by $2.19. Howard Hughes had a return on equity of 8.49% and a net margin of 12.31%.The company had revenue of $1.12 billion for the quarter. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The company’s revenue for the quarter was up 330.2% on a year-over-year basis. Research analysts anticipate that Howard Hughes Holdings Inc. will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Howard Hughes news, Director Mary Ann Tighe sold 13,495 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total transaction of $907,538.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 47.70% of the stock is owned by company insiders.

Howard Hughes 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.