Howard Hughes (NYSE:HHH) Raised to Hold at Zacks Research

Howard Hughes (NYSE:HHH) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on HHH. Weiss Ratings downgraded shares of Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Wall Street Zen raised shares of Howard Hughes from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $85.00.

Howard Hughes Stock Up 0.7%

HHH stock opened at $67.24 on Monday. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 32.96 and a beta of 1.14. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.58 and a current ratio of 1.58. The business’s 50-day moving average is $64.81 and its two-hundred day moving average is $71.91. Howard Hughes has a fifty-two week low of $61.01 and a fifty-two week high of $91.07.

Howard Hughes (NYSE:HHH) last released its quarterly 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 return on equity of 5.41% and a net margin of 8.04%.The business had revenue of $235.92 million during the quarter. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, analysts forecast that Howard Hughes will post 3.01 earnings per share for the current year.

Insider Buying and Selling

In other Howard Hughes news, insider James Carman sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 22,096 shares in the company, valued at approximately $1,418,563.20. This trade represents a 6.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 48.00% of the company’s stock.

Hedge Funds Weigh In On Howard Hughes

A number of hedge funds have recently modified their holdings of the company. Brighton Jones LLC bought a new stake in shares of Howard Hughes during the 4th quarter valued at $511,000. Royal Bank of Canada boosted its holdings in Howard Hughes by 1,900.6% in the 1st quarter. Royal Bank of Canada now owns 99,248 shares of the company’s stock worth $7,353,000 after buying an additional 94,287 shares during the period. Millennium Management LLC boosted its holdings in Howard Hughes by 2,368.8% in the 1st quarter. Millennium Management LLC now owns 165,926 shares of the company’s stock worth $12,292,000 after buying an additional 159,205 shares during the period. Goldman Sachs Group Inc. increased its stake in Howard Hughes by 26.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 118,589 shares of the company’s stock worth $8,785,000 after buying an additional 25,001 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in Howard Hughes in the 1st quarter worth $254,000. 93.83% of the stock is currently owned by institutional investors.

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.