Allen J. Model Sells 9,323 Shares of The Howard Hughes Co. (NYSE:HHC) Stock

The Howard Hughes Co. (NYSE:HHC) Director Allen J. Model sold 9,323 shares of the company’s stock in a transaction on Tuesday, December 29th. The shares were sold at an average price of $80.11, for a total value of $746,865.53. Following the transaction, the director now directly owns 16,337 shares in the company, valued at $1,308,757.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

The Howard Hughes stock opened at $78.93 on Friday. The stock has a market cap of $4.34 billion, a PE ratio of -78.15 and a beta of 1.60. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.79 and a current ratio of 1.79. The Howard Hughes Co. has a one year low of $35.10 and a one year high of $129.74. The stock has a fifty day moving average of $76.07 and a 200 day moving average of $62.38.

The Howard Hughes (NYSE:HHC) last issued its quarterly earnings results on Thursday, November 5th. The financial services provider reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $3.03. The business had revenue of $154.40 million during the quarter, compared to analysts’ expectations of $167.95 million. The Howard Hughes had a positive return on equity of 1.06% and a negative net margin of 2.68%. The business’s quarterly revenue was down 33.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.32 earnings per share. As a group, sell-side analysts predict that The Howard Hughes Co. will post -1.49 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new stake in The Howard Hughes in the second quarter worth about $43,000. First Horizon Advisors Inc. purchased a new stake in The Howard Hughes in the third quarter worth about $46,000. Macquarie Group Ltd. increased its position in The Howard Hughes by 36.3% in the second quarter. Macquarie Group Ltd. now owns 1,636 shares of the financial services provider’s stock worth $85,000 after buying an additional 436 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in The Howard Hughes by 12.9% in the third quarter. Cullen Frost Bankers Inc. now owns 2,111 shares of the financial services provider’s stock worth $122,000 after buying an additional 241 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of The Howard Hughes during the third quarter worth about $201,000. Institutional investors and hedge funds own 88.47% of the company’s stock.

A number of research analysts have recently issued reports on the company. Zacks Investment Research raised The Howard Hughes from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Thursday, November 12th. TheStreet raised The Howard Hughes from a “d” rating to a “c-” rating in a report on Friday, October 2nd. BidaskClub downgraded The Howard Hughes from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, ValuEngine cut The Howard Hughes from a “buy” rating to a “hold” rating in a research report on Tuesday, November 10th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.00.

About The Howard Hughes

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through four segments: Operating Assets, Master Planned Communities (MPCs), Seaport District, and Strategic Developments. The Operating Assets segment owns 14 retail, 32 office, nine multi-family, and three hospitality properties, as well as 13 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, HawaiƂ’i.

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