Howard Hughes (NYSE:HHC) Sees Strong Trading Volume

Posted by Don Miller on Dec 2nd, 2019

Shares of Howard Hughes Corp (NYSE:HHC) saw unusually-strong trading volume on Monday . Approximately 1,519,963 shares were traded during trading, an increase of 514% from the previous session’s volume of 247,752 shares.The stock last traded at $115.00 and had previously closed at $110.41.

Separately, Zacks Investment Research downgraded shares of Howard Hughes from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th.

The stock has a market capitalization of $4.77 billion, a P/E ratio of 87.12 and a beta of 1.29. The firm’s 50 day moving average price is $112.45 and its 200 day moving average price is $119.35. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.81 and a quick ratio of 1.81.

Howard Hughes (NYSE:HHC) last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.11 by $0.58. The firm had revenue of $231.17 million during the quarter, compared to the consensus estimate of $234.78 million. Howard Hughes had a net margin of 7.58% and a return on equity of 3.38%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 earnings per share. On average, equities research analysts forecast that Howard Hughes Corp will post 0.83 earnings per share for the current year.

In related news, Director Jeffrey D. Furber purchased 1,000 shares of Howard Hughes stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $109.92 per share, for a total transaction of $109,920.00. Following the completion of the transaction, the director now directly owns 21,383 shares of the company’s stock, valued at $2,350,419.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Adam R. Flatto purchased 3,000 shares of Howard Hughes stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $107.31 per share, for a total transaction of $321,930.00. Following the transaction, the director now directly owns 39,394 shares of the company’s stock, valued at $4,227,370.14. The disclosure for this purchase can be found here. 7.45% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. grew its holdings in Howard Hughes by 11.8% in the second quarter. Advisor Group Inc. now owns 852 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 90 shares during the period. Prudential Financial Inc. grew its holdings in Howard Hughes by 4.2% in the second quarter. Prudential Financial Inc. now owns 2,492 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 100 shares during the period. US Bancorp DE grew its holdings in Howard Hughes by 2.9% in the second quarter. US Bancorp DE now owns 4,300 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 120 shares during the period. Lindbrook Capital LLC grew its holdings in Howard Hughes by 79.3% in the third quarter. Lindbrook Capital LLC now owns 373 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 165 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in Howard Hughes by 1.6% in the second quarter. CIBC Private Wealth Group LLC now owns 10,862 shares of the financial services provider’s stock worth $1,345,000 after purchasing an additional 170 shares during the period. Institutional investors own 85.27% of the company’s stock.

Howard Hughes Company Profile (NYSE:HHC)

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through three segments: Operating Assets, Master Planned Communities, and Strategic Developments. The Operating Assets segment owns 15 retail, 28 office, 8 multi-family, and 4 hospitality properties, as well as 10 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, Hawai’i.