Howard Hughes (NYSE:HHH) Shares Gap Up to $62.37

Howard Hughes Holdings Inc. (NYSE:HHH) shares gapped up prior to trading on Wednesday . The stock had previously closed at $62.37, but opened at $71.95. Howard Hughes shares last traded at $70.15, with a volume of 238,990 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HHH shares. JPMorgan Chase & Co. reduced their price objective on Howard Hughes from $90.00 to $84.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 16th. Jefferies Financial Group reduced their price target on Howard Hughes from $89.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th.

Howard Hughes Stock Performance

The stock has a market capitalization of $3.46 billion, a P/E ratio of -5.97 and a beta of 1.45. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.79. The company has a 50-day moving average price of $67.34 and a two-hundred day moving average price of $70.07.

Howard Hughes (NYSE:HHH) last released its earnings results on Friday, July 26th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. Howard Hughes had a negative return on equity of 0.33% and a negative net margin of 49.52%. The business had revenue of $317.40 million during the quarter, compared to analysts’ expectations of $239.73 million. During the same quarter last year, the firm posted ($0.39) earnings per share. The firm’s revenue was up 42.1% on a year-over-year basis. On average, equities analysts forecast that Howard Hughes Holdings Inc. will post 3.04 earnings per share for the current year.

Institutional Investors Weigh In On Howard Hughes

Several hedge funds and other institutional investors have recently bought and sold shares of HHH. Pershing Square Capital Management L.P. grew its stake in shares of Howard Hughes by 12.2% in the 4th quarter. Pershing Square Capital Management L.P. now owns 18,852,064 shares of the company’s stock valued at $1,612,794,000 after buying an additional 2,045,156 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Howard Hughes by 9.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,352,501 shares of the company’s stock worth $201,259,000 after purchasing an additional 193,957 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in Howard Hughes by 26.7% during the 1st quarter. Donald Smith & CO. Inc. now owns 1,296,021 shares of the company’s stock valued at $94,117,000 after purchasing an additional 272,742 shares in the last quarter. New South Capital Management Inc. raised its holdings in Howard Hughes by 0.4% during the second quarter. New South Capital Management Inc. now owns 609,289 shares of the company’s stock worth $39,494,000 after buying an additional 2,698 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Howard Hughes by 14.7% in the first quarter. Russell Investments Group Ltd. now owns 383,122 shares of the company’s stock valued at $27,822,000 after buying an additional 49,103 shares in the last quarter. 93.83% of the stock is owned by institutional investors.

Howard Hughes Company 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.