Howard Hughes (NYSE:HHH) Reaches New 52-Week Low After Analyst Downgrade

Shares of Howard Hughes Holdings Inc. (NYSE:HHH) reached a new 52-week low on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $90.00 to $84.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Howard Hughes traded as low as $60.06 and last traded at $60.14, with a volume of 53415 shares. The stock had previously closed at $61.57.

Separately, TheStreet raised Howard Hughes from a “d+” rating to a “c-” rating in a report on Friday, December 22nd.

Insider Activity at Howard Hughes

In other Howard Hughes news, insider Heath Melton sold 1,926 shares of Howard Hughes stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $72.95, for a total value of $140,501.70. Following the transaction, the insider now owns 9,274 shares in the company, valued at $676,538.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 33.00% of the company’s stock.

Institutional Investors Weigh In On Howard Hughes

Several hedge funds have recently modified their holdings of HHH. Beech Hill Advisors Inc. raised its holdings in Howard Hughes by 5.6% during the 1st quarter. Beech Hill Advisors Inc. now owns 6,650 shares of the company’s stock worth $483,000 after buying an additional 350 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Howard Hughes during the fourth quarter valued at approximately $6,331,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Howard Hughes by 1.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,812 shares of the company’s stock valued at $2,038,000 after acquiring an additional 409 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Howard Hughes by 6.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 72,016 shares of the company’s stock valued at $6,161,000 after acquiring an additional 4,343 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Howard Hughes by 6.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,100 shares of the company’s stock worth $607,000 after purchasing an additional 458 shares during the period. 93.83% of the stock is owned by hedge funds and other institutional investors.

Howard Hughes Stock Performance

The firm’s 50-day simple moving average is $72.63 and its two-hundred day simple moving average is $74.93. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $2.98 billion, a PE ratio of -5.34 and a beta of 1.48.

Howard Hughes (NYSE:HHH) last issued its earnings results on Tuesday, February 27th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.44 by $0.25. The business had revenue of $335.84 million during the quarter, compared to analysts’ expectations of $318.32 million. Howard Hughes had a negative return on equity of 0.62% and a negative net margin of 53.88%. On average, equities research analysts expect that Howard Hughes Holdings Inc. will post 3.63 earnings per share 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.