Howard Hughes (NYSE:HHH) Shares Gap Up – Time to Buy?

Howard Hughes Holdings Inc. (NYSE:HHH)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $70.19, but opened at $73.16. Howard Hughes shares last traded at $73.6650, with a volume of 213,933 shares trading hands.

Analysts Set New Price Targets

HHH has been the topic of a number of research reports. Weiss Ratings raised Howard Hughes from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. JPMorgan Chase & Co. upped their price target on Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Piper Sandler decreased their price target on Howard Hughes from $100.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Finally, Zacks Research upgraded shares of Howard Hughes from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Howard Hughes presently has an average rating of “Moderate Buy” and an average target price of $81.00.

Howard Hughes Price Performance

The firm has a 50-day moving average price of $67.49 and a 200 day moving average price of $69.01.

Howard Hughes (NYSE:HHH) last released its earnings results on Wednesday, August 5th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $2.19. The firm had revenue of $1.12 billion for the quarter. During the same quarter in the previous year, the business posted ($0.22) earnings per share. The firm’s quarterly revenue was up 330.2% compared to the same quarter last year. Research analysts expect that Howard Hughes Holdings Inc. will post 4.47 earnings per share for the current year.

Insider Buying and Selling

In other Howard Hughes news, COO Andrew D. Davis acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The stock was bought at an average price of $64.49 per share, for a total transaction of $64,490.00. Following the purchase, the chief operating officer owned 32,530 shares in the company, valued at $2,097,859.70. This represents a 3.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary Tighe sold 13,495 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total transaction of $907,538.75. The SEC filing for this sale provides additional information. Insiders own 47.70% of the company’s stock.

Institutional Trading of Howard Hughes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moody Aldrich Partners LLC acquired a new stake in shares of Howard Hughes during the 3rd quarter worth about $205,000. Sage Investment Counsel LLC boosted its position in Howard Hughes by 1.0% in the third quarter. Sage Investment Counsel LLC now owns 29,078 shares of the company’s stock valued at $2,141,000 after buying an additional 300 shares in the last quarter. Sowell Financial Services LLC boosted its position in Howard Hughes by 14.0% in the third quarter. Sowell Financial Services LLC now owns 119,579 shares of the company’s stock valued at $8,803,000 after buying an additional 14,722 shares in the last quarter. Annex Advisory Services LLC grew its stake in Howard Hughes by 12.0% during the third quarter. Annex Advisory Services LLC now owns 24,036 shares of the company’s stock worth $1,770,000 after buying an additional 2,575 shares during the last quarter. Finally, TT Capital Management LLC bought a new stake in Howard Hughes during the third quarter worth about $206,000. Institutional investors own 93.83% of the company’s stock.

Howard Hughes Company Profile

Howard Hughes Holdings Inc (NYSE: HHH) is a real estate development and operating company focused primarily on master planned communities, residential and commercial development, and the management of related real estate assets. The company develops large-scale communities that may include housing, retail, offices, schools, parks and other amenities, while generating revenue through land sales, development activities and property operations.

The company’s master planned community portfolio has included Summerlin in the Las Vegas area; Bridgeland, The Woodlands and The Woodlands Hills in the greater Houston area; and other communities and real estate assets in selected U.S.