Cibc World Markets Corp Lowers Stock Position in The Howard Hughes Co. (NYSE:HHC)

Cibc World Markets Corp lessened its holdings in The Howard Hughes Co. (NYSE:HHC – Get Rating) by 24.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,100 shares of the financial services provider’s stock after selling 3,661 shares during the quarter. Cibc World Markets Corp’s holdings in Howard Hughes were worth $848,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of Howard Hughes by 0.5% in the 1st quarter. BlackRock Inc. now owns 2,396,814 shares of the financial services provider’s stock worth $248,335,000 after purchasing an additional 11,139 shares during the period. Dimensional Fund Advisors LP lifted its position in Howard Hughes by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,814,440 shares of the financial services provider’s stock valued at $138,659,000 after acquiring an additional 61,975 shares during the last quarter. Donald Smith & CO. Inc. lifted its position in Howard Hughes by 5.5% during the third quarter. Donald Smith & CO. Inc. now owns 634,055 shares of the financial services provider’s stock valued at $35,120,000 after acquiring an additional 32,987 shares during the last quarter. State Street Corp lifted its position in Howard Hughes by 3.8% during the first quarter. State Street Corp now owns 626,740 shares of the financial services provider’s stock valued at $64,937,000 after acquiring an additional 22,812 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Howard Hughes by 71.8% during the fourth quarter. Jennison Associates LLC now owns 498,440 shares of the financial services provider’s stock valued at $38,091,000 after acquiring an additional 208,330 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Howard Hughes in a research report on Thursday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.67.

Howard Hughes Trading Down 1.3 %

NYSE HHC opened at $74.31 on Monday. The company has a fifty day simple moving average of $76.10 and a two-hundred day simple moving average of $77.35. The stock has a market cap of $3.71 billion, a P/E ratio of 23.08 and a beta of 1.46. The Howard Hughes Co. has a 12-month low of $50.90 and a 12-month high of $89.58. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.33.

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

Insiders Place Their Bets

In related news, Director Pershing Square Capital Manage purchased 35,483 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was acquired at an average price of $74.51 per share, with a total value of $2,643,838.33. Following the completion of the acquisition, the director now owns 16,245,791 shares in the company, valued at approximately $1,210,473,887.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Douglas Johnstone sold 1,070 shares of the stock in a transaction on Friday, March 31st. The shares were sold at an average price of $78.82, for a total value of $84,337.40. Following the sale, the insider now owns 9,843 shares in the company, valued at $775,825.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pershing Square Capital Manage acquired 35,483 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was acquired at an average price of $74.51 per share, for a total transaction of $2,643,838.33. Following the purchase, the director now directly owns 16,245,791 shares of the company’s stock, valued at $1,210,473,887.41. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 182,050 shares of company stock valued at $13,586,134. Insiders own 33.00% of the company’s stock.

Howard Hughes Profile

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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.