Pin Oak Investment Advisors Inc. Takes Position in Howard Hughes Holdings Inc. $HHH

Pin Oak Investment Advisors Inc. acquired a new position in shares of Howard Hughes Holdings Inc. (NYSE:HHH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 59,839 shares of the company’s stock, valued at approximately $4,278,000. Howard Hughes makes up 2.2% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 10th biggest holding.

Other hedge funds have also bought and sold shares of the company. Twin Lakes Capital Management LLC acquired a new position in Howard Hughes in the second quarter valued at $319,000. Jefferies Financial Group Inc. bought a new stake in Howard Hughes during the second quarter valued at $220,000. Public Employees Retirement System of Ohio acquired a new stake in Howard Hughes during the 2nd quarter worth about $650,000. Capstone Investment Advisors LLC acquired a new stake in Howard Hughes during the 2nd quarter worth about $218,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Howard Hughes in the 2nd quarter worth about $2,191,000. Institutional investors own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Mary Ann Tighe sold 13,495 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which is available through the SEC website. 47.70% of the stock is owned by insiders.

Howard Hughes Trading Down 0.2%

NYSE:HHH opened at $64.80 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 13.12 and a beta of 1.14. The firm has a fifty day simple moving average of $68.53 and a two-hundred day simple moving average of $67.55. Howard Hughes Holdings Inc. has a 12 month low of $61.01 and a 12 month high of $91.07.

Howard Hughes (NYSE:HHH) last announced 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. The firm had revenue of $1.12 billion for the quarter. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. Howard Hughes’s revenue for the quarter was up 330.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.22) EPS. Analysts expect that Howard Hughes Holdings Inc. will post 2.77 EPS for the current fiscal year.

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.