Hsbc Holdings PLC Cuts Stock Holdings in Howard Hughes Holdings Inc. $HHH

Hsbc Holdings PLC lowered its position in shares of Howard Hughes Holdings Inc. (NYSE:HHH) by 18.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 49,466 shares of the company’s stock after selling 11,442 shares during the quarter. Hsbc Holdings PLC’s holdings in Howard Hughes were worth $3,967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HHH. Northern Right Capital Management L.P. grew its holdings in Howard Hughes by 15.7% in the 3rd quarter. Northern Right Capital Management L.P. now owns 302,450 shares of the company’s stock valued at $24,852,000 after buying an additional 41,095 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of Howard Hughes during the 4th quarter valued at about $511,000. Russell Investments Group Ltd. grew its holdings in shares of Howard Hughes by 98.3% in the third quarter. Russell Investments Group Ltd. now owns 556,860 shares of the company’s stock valued at $45,757,000 after purchasing an additional 276,083 shares during the period. Gotham Asset Management LLC grew its holdings in shares of Howard Hughes by 31.5% in the third quarter. Gotham Asset Management LLC now owns 337,199 shares of the company’s stock valued at $27,708,000 after purchasing an additional 80,701 shares during the period. Finally, Crcm LP increased its position in Howard Hughes by 82.5% during the third quarter. Crcm LP now owns 560,713 shares of the company’s stock worth $46,074,000 after purchasing an additional 253,490 shares during the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Insider Transactions at Howard Hughes

In related news, insider James Carman sold 1,500 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $64.20, for a total value of $96,300.00. Following the sale, the insider directly owned 22,096 shares in the company, valued at approximately $1,418,563.20. The trade was a 6.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 48.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Finally, Zacks Research upgraded shares of Howard Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $85.00.

Howard Hughes Price Performance

NYSE:HHH opened at $72.27 on Monday. Howard Hughes Holdings Inc. has a 52 week low of $61.01 and a 52 week high of $91.07. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $4.31 billion, a P/E ratio of 35.42 and a beta of 1.14. The stock’s fifty day moving average is $65.17 and its two-hundred day moving average is $71.58.

Howard Hughes (NYSE:HHH) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.08 by $0.06. The business had revenue of $235.92 million for the quarter. Howard Hughes had a return on equity of 5.41% and a net margin of 8.04%.The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the company earned $0.21 EPS. Equities analysts expect that Howard Hughes Holdings Inc. will post 3.01 EPS for the current 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.