Howard Hughes (HHC) Hits New 52-Week Low at $104.04
Howard Hughes Corp (NYSE:HHC) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $104.04 and last traded at $107.32, with a volume of 102797 shares trading hands. The stock had previously closed at $107.24.
Several research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Howard Hughes from $157.00 to $159.00 and gave the company a “buy” rating in a research note on Tuesday, November 13th. TheStreet lowered shares of Howard Hughes from a “b-” rating to a “c+” rating in a research note on Tuesday, September 18th. One analyst has rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $160.00.
The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 69.28 and a beta of 1.21. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.28 and a current ratio of 1.28.
In other news, Director Allen J. Model purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The shares were acquired at an average cost of $108.98 per share, for a total transaction of $108,980.00. Following the transaction, the director now directly owns 17,062 shares of the company’s stock, valued at approximately $1,859,416.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pershing Square Capital Manage sold 899,647 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $109.39, for a total transaction of $98,412,385.33. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 56,570 shares of company stock worth $6,188,272 and sold 990,745 shares worth $109,891,796. Company insiders own 10.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd acquired a new stake in Howard Hughes during the 2nd quarter worth approximately $132,000. Pinnacle Financial Partners Inc. raised its holdings in Howard Hughes by 339.1% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 1,335 shares of the financial services provider’s stock worth $166,000 after buying an additional 1,031 shares during the period. Summit Financial Strategies Inc. acquired a new stake in Howard Hughes during the 3rd quarter worth approximately $217,000. CIBC Asset Management Inc acquired a new stake in Howard Hughes during the 2nd quarter worth approximately $222,000. Finally, Security National Bank of Sioux City Iowa IA acquired a new stake in Howard Hughes during the 2nd quarter worth approximately $232,000. Institutional investors and hedge funds own 84.68% of the company’s stock.
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Howard Hughes Company Profile (NYSE:HHC)
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.
See Also: Systematic Risk and Investors
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