Pershing Square Capital Manage Acquires 7,932 Shares of The Howard Hughes Co. (NYSE:HHC) Stock

Posted by MarketBeat News on May 21st, 2023

The Howard Hughes Co. (NYSE:HHC – Get Rating) Director Pershing Square Capital Manage acquired 7,932 shares of the stock in a transaction dated Wednesday, May 17th. The shares were bought at an average price of $73.59 per share, for a total transaction of $583,715.88. Following the transaction, the director now owns 16,192,353 shares in the company, valued at approximately $1,191,595,257.27. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Pershing Square Capital Manage also recently made the following trade(s):

On Friday, May 19th, Pershing Square Capital Manage purchased 35,483 shares of Howard Hughes stock. The shares were purchased at an average price of $74.51 per share, for a total transaction of $2,643,838.33.
On Monday, May 15th, Pershing Square Capital Manage acquired 2,200 shares of Howard Hughes stock. The shares were purchased at an average price of $74.91 per share, for a total transaction of $164,802.00.
On Thursday, May 11th, Pershing Square Capital Manage purchased 6,776 shares of Howard Hughes stock. The shares were acquired at an average cost of $74.89 per share, for a total transaction of $507,454.64.
On Tuesday, May 9th, Pershing Square Capital Manage acquired 16,417 shares of Howard Hughes stock. The stock was bought at an average price of $74.26 per share, for a total transaction of $1,219,126.42.
On Thursday, May 4th, Pershing Square Capital Manage purchased 26,923 shares of Howard Hughes stock. The stock was bought at an average cost of $74.70 per share, for a total transaction of $2,011,148.10.
On Tuesday, May 2nd, Pershing Square Capital Manage acquired 2,919 shares of Howard Hughes stock. The stock was purchased at an average price of $74.87 per share, for a total transaction of $218,545.53.
On Wednesday, April 26th, Pershing Square Capital Manage purchased 51,300 shares of Howard Hughes stock. The shares were acquired at an average price of $74.71 per share, for a total transaction of $3,832,623.00.
On Monday, April 24th, Pershing Square Capital Manage acquired 200 shares of Howard Hughes stock. The stock was acquired at an average price of $74.98 per share, with a total value of $14,996.00.
On Friday, April 14th, Pershing Square Capital Manage bought 1,253 shares of Howard Hughes stock. The shares were acquired at an average cost of $74.95 per share, for a total transaction of $93,912.35.
On Wednesday, April 12th, Pershing Square Capital Manage purchased 8,782 shares of Howard Hughes stock. The stock was bought at an average price of $74.94 per share, for a total transaction of $658,123.08.

Howard Hughes Price Performance

HHC stock opened at $74.31 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 23.08 and a beta of 1.46. The firm has a 50 day moving average price of $76.10 and a 200-day moving average price of $77.23. The Howard Hughes Co. has a 52-week low of $50.90 and a 52-week high of $89.58.

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Howard Hughes (NYSE:HHC – Get Rating) last released its quarterly earnings data on Monday, May 8th. The financial services provider reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.01. The business had revenue of $196.29 million during the quarter, compared to analyst estimates of $199.10 million. Howard Hughes had a net margin of 10.01% and a return on equity of 4.50%. During the same period last year, the business earned $0.04 EPS. Equities research analysts forecast that The Howard Hughes Co. will post -1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Howard Hughes in a research note on Thursday. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Howard Hughes has a consensus rating of “Moderate Buy” and an average price target of $86.67.

Institutional Investors Weigh In On Howard Hughes

Several institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. increased its position in Howard Hughes by 5.4% during the first quarter. Advisor Group Holdings Inc. now owns 2,711 shares of the financial services provider’s stock valued at $203,000 after acquiring an additional 139 shares during the last quarter. AMI Investment Management Inc. lifted its holdings in shares of Howard Hughes by 53.5% in the first quarter. AMI Investment Management Inc. now owns 29,180 shares of the financial services provider’s stock worth $3,023,000 after buying an additional 10,169 shares in the last quarter. Raymond James & Associates lifted its stake in Howard Hughes by 2.1% in the 1st quarter. Raymond James & Associates now owns 17,359 shares of the financial services provider’s stock worth $1,799,000 after purchasing an additional 362 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Howard Hughes by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 142,033 shares of the financial services provider’s stock valued at $14,716,000 after acquiring an additional 989 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Howard Hughes by 17.0% in the first quarter. American Century Companies Inc. now owns 5,632 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 818 shares during the last quarter.

Howard Hughes Company Profile

(Get Rating)

The Howard Hughes Corp. engages in the development and management of commercial, residential, and mixed-use real estate. It operates through the following segments: Operating Assets, Master Planned Communities, Seaport District, and Strategic Developments. The Operating Assets segment consists of retail, office, hospitality, and multi-family properties along with other real estate investments.