Rivernorth Capital Management LLC Trims Holdings in Howard Hughes Holdings Inc. $HHH

Rivernorth Capital Management LLC reduced its stake in Howard Hughes Holdings Inc. (NYSE:HHH) by 43.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 85,000 shares of the company’s stock after selling 64,204 shares during the quarter. Rivernorth Capital Management LLC’s holdings in Howard Hughes were worth $6,077,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HHH. Sequoia Financial Advisors LLC boosted its position in shares of Howard Hughes by 0.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 27,193 shares of the company’s stock worth $2,169,000 after buying an additional 147 shares during the period. Fifth Third Bancorp raised its holdings in shares of Howard Hughes by 37.2% in the 4th quarter. Fifth Third Bancorp now owns 572 shares of the company’s stock valued at $46,000 after buying an additional 155 shares during the period. &PARTNERS lifted its stake in Howard Hughes by 3.9% during the 4th quarter. &PARTNERS now owns 5,407 shares of the company’s stock worth $431,000 after acquiring an additional 204 shares in the last quarter. California State Teachers Retirement System lifted its stake in Howard Hughes by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 30,098 shares of the company’s stock worth $2,032,000 after acquiring an additional 217 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in Howard Hughes by 7.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,409 shares of the company’s stock valued at $244,000 after acquiring an additional 226 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of 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 research note on Saturday, May 9th. Zacks Research lowered shares of Howard Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on shares of Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded shares of Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $79.00.

Insider Transactions at Howard Hughes

In other news, Director Mary Ann Tighe sold 13,495 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 47.70% of the stock is owned by company insiders.

Howard Hughes Price Performance

Shares of HHH opened at $64.80 on Monday. Howard Hughes Holdings Inc. has a twelve month low of $61.01 and a twelve month high of $91.07. The firm’s fifty day simple moving average is $68.53 and its 200-day simple moving average is $67.43. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 13.12 and a beta of 1.14. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.35.

Howard Hughes (NYSE:HHH) last issued its earnings results on Wednesday, August 5th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $2.19. The firm had revenue of $1.12 billion during the quarter. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The business’s revenue for the quarter was up 330.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.22) EPS. Equities analysts forecast that Howard Hughes Holdings Inc. will post 2.77 EPS for the current fiscal year.

About Howard Hughes

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.