Macquarie Group Ltd. Has $2.85 Million Position in The Howard Hughes Co. (NYSE:HHC)

Macquarie Group Ltd. lessened its stake in shares of The Howard Hughes Co. (NYSE:HHC – Get Rating) by 13.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,566 shares of the financial services provider’s stock after selling 7,961 shares during the period. Macquarie Group Ltd. owned 0.10% of Howard Hughes worth $2,846,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Point72 Hong Kong Ltd lifted its position in shares of Howard Hughes by 66.8% during the 3rd quarter. Point72 Hong Kong Ltd now owns 3,634 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,455 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Howard Hughes by 109.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 54,633 shares of the financial services provider’s stock valued at $3,026,000 after acquiring an additional 28,581 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Howard Hughes during the 3rd quarter valued at $543,000. Ergoteles LLC lifted its position in shares of Howard Hughes by 578.3% during the 3rd quarter. Ergoteles LLC now owns 20,701 shares of the financial services provider’s stock valued at $1,147,000 after acquiring an additional 17,649 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Howard Hughes during the 3rd quarter valued at $175,000.

Analyst Ratings Changes

Several research analysts have weighed in on HHC shares. TheStreet upgraded shares of Howard Hughes from a “d+” rating to a “c” rating in a report on Wednesday, November 23rd. StockNews.com downgraded shares of Howard Hughes from a “hold” rating to a “sell” rating in a report on Thursday. BWS Financial restated a “buy” rating on shares of Howard Hughes in a report on Tuesday, January 17th. Finally, Piper Sandler lowered their price objective on shares of Howard Hughes to $80.00 in a report on Wednesday, November 16th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.67.

Howard Hughes Stock Performance

NYSE HHC opened at $78.74 on Friday. The Howard Hughes Co. has a 1 year low of $50.90 and a 1 year high of $105.51. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 21.17 and a beta of 1.45. The company has a fifty day moving average price of $83.20 and a 200-day moving average price of $71.89.

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

Insider Transactions at Howard Hughes

In other news, Director Pershing Square Capital Manage bought 5,135 shares of Howard Hughes stock in a transaction dated Wednesday, December 28th. The stock was purchased at an average price of $74.66 per share, for a total transaction of $383,379.10. Following the purchase, the director now directly owns 15,894,116 shares in the company, valued at approximately $1,186,654,700.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought a total of 49,200 shares of company stock worth $3,666,435 in the last quarter. 26.90% of the stock is currently owned by corporate insiders.

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.