400,617 Shares in Howard Hughes Holdings Inc. $HHH Acquired by Norges Bank

Norges Bank bought a new position in shares of Howard Hughes Holdings Inc. (NYSE:HHH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 400,617 shares of the company’s stock, valued at approximately $31,957,000.

Several other hedge funds have also added to or reduced their stakes in HHH. Signaturefd LLC boosted its position in Howard Hughes by 41.5% during the 4th quarter. Signaturefd LLC now owns 423 shares of the company’s stock worth $34,000 after buying an additional 124 shares during the period. EverSource Wealth Advisors LLC boosted its position in Howard Hughes by 191.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company’s stock worth $35,000 after buying an additional 339 shares during the period. Huntington National Bank boosted its position in Howard Hughes by 134.1% during the 4th quarter. Huntington National Bank now owns 494 shares of the company’s stock worth $39,000 after buying an additional 283 shares during the period. Fifth Third Bancorp boosted its position in Howard Hughes by 37.2% during the 4th quarter. Fifth Third Bancorp now owns 572 shares of the company’s stock worth $46,000 after buying an additional 155 shares during the period. Finally, Allworth Financial LP raised its holdings in Howard Hughes by 56.1% during the 4th quarter. Allworth Financial LP now owns 662 shares of the company’s stock worth $53,000 after purchasing an additional 238 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Howard Hughes Stock Up 4.2%

Howard Hughes stock opened at $67.69 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.97. Howard Hughes Holdings Inc. has a 12-month low of $61.01 and a 12-month high of $91.07. The firm’s fifty day moving average is $64.08 and its 200 day moving average is $73.36. The company has a market capitalization of $4.04 billion, a PE ratio of 33.18 and a beta of 1.14.

Howard Hughes (NYSE:HHH) last released its earnings results on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. Howard Hughes had a net margin of 8.04% and a return on equity of 5.41%. The company had revenue of $235.92 million for the quarter. During the same quarter in the previous year, the firm earned $0.21 EPS. The firm’s revenue was up 18.4% on a year-over-year basis. As a group, sell-side analysts predict that Howard Hughes Holdings Inc. will post 3.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Joseph Valane bought 1,260 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $64.45 per share, for a total transaction of $81,207.00. Following the transaction, the general counsel directly owned 29,209 shares of the company’s stock, valued at approximately $1,882,520.05. The trade was a 4.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Carman sold 1,500 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $64.20, for a total transaction of $96,300.00. Following the transaction, the insider owned 22,096 shares in the company, valued at $1,418,563.20. The trade was a 6.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 48.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Howard Hughes from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Finally, Zacks Research lowered shares of Howard Hughes from a “hold” rating to a “strong sell” rating in a report on Friday, April 24th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Howard Hughes currently has a consensus rating of “Sell” and an average price target of $85.00.

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.