The Howard Hughes Co. (NYSE:HHC) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its position in shares of The Howard Hughes Co. (NYSE:HHC – Get Rating) by 109.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,633 shares of the financial services provider’s stock after buying an additional 28,581 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.11% of Howard Hughes worth $3,026,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of Howard Hughes by 4.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 25,469 shares of the financial services provider’s stock worth $1,733,000 after buying an additional 1,040 shares during the last quarter. ACR Alpine Capital Research LLC raised its stake in shares of Howard Hughes by 1.7% during the 3rd quarter. ACR Alpine Capital Research LLC now owns 35,378 shares of the financial services provider’s stock worth $1,960,000 after buying an additional 592 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Howard Hughes during the 3rd quarter worth $1,692,000. CenterBook Partners LP raised its stake in shares of Howard Hughes by 57.5% during the 3rd quarter. CenterBook Partners LP now owns 8,510 shares of the financial services provider’s stock worth $471,000 after buying an additional 3,107 shares during the last quarter. Finally, Perpetual Investment Management Ltd raised its stake in shares of Howard Hughes by 7.0% during the 2nd quarter. Perpetual Investment Management Ltd now owns 80,665 shares of the financial services provider’s stock worth $5,489,000 after buying an additional 5,263 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on HHC. StockNews.com downgraded shares of Howard Hughes from a “hold” rating to a “sell” rating in a research note on Wednesday, March 1st. BWS Financial reissued a “buy” rating on shares of Howard Hughes in a research note on Tuesday, January 17th. TheStreet raised shares of Howard Hughes from a “d+” rating to a “c” rating in a research note on Wednesday, November 23rd. Finally, Piper Sandler cut their target price on shares of Howard Hughes to $80.00 in a research note on Wednesday, November 16th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Howard Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $86.67.

Howard Hughes Price Performance

HHC opened at $80.41 on Wednesday. The Howard Hughes Co. has a twelve month low of $50.90 and a twelve month high of $105.51. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.32. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 21.62 and a beta of 1.45. The company has a fifty day simple moving average of $83.00 and a 200 day simple moving average of $71.77.

Howard Hughes (NYSE:HHC – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.10. The company had revenue of $482.01 million for the quarter, compared to the consensus estimate of $442.82 million. Howard Hughes had a net margin of 11.47% and a return on equity of 5.21%. During the same period last year, the firm posted $2.09 EPS. Equities research analysts expect that The Howard Hughes Co. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling at Howard Hughes

In related news, Director Pershing Square Capital Manage bought 12,642 shares of the stock in a transaction on Tuesday, December 20th. The shares were purchased at an average price of $74.84 per share, with a total value of $946,127.28. Following the purchase, the director now owns 15,850,171 shares in the company, valued at $1,186,226,797.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have purchased 49,200 shares of company stock valued at $3,666,435. Company insiders own 26.90% 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.