Donald Smith & CO. Inc. Sells 472,328 Shares of Howard Hughes Holdings Inc. $HHH

Donald Smith & CO. Inc. cut its stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH) by 30.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,097,680 shares of the company’s stock after selling 472,328 shares during the period. Howard Hughes accounts for about 1.7% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 26th biggest holding. Donald Smith & CO. Inc. owned 1.85% of Howard Hughes worth $74,093,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of HHH. Marshall Wace LLP grew its position in shares of Howard Hughes by 201.3% in the 2nd quarter. Marshall Wace LLP now owns 41,874 shares of the company’s stock valued at $2,826,000 after acquiring an additional 27,975 shares during the period. First Trust Advisors LP raised its holdings in shares of Howard Hughes by 103.0% in the 2nd quarter. First Trust Advisors LP now owns 58,850 shares of the company’s stock valued at $3,972,000 after purchasing an additional 29,858 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Howard Hughes by 191.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company’s stock valued at $35,000 after purchasing an additional 339 shares during the last quarter. Norges Bank bought a new position in Howard Hughes during the second quarter worth about $25,951,000. Finally, Capital Fund Management S.A. grew its holdings in Howard Hughes by 70.3% during the second quarter. Capital Fund Management S.A. now owns 71,407 shares of the company’s stock worth $4,820,000 after purchasing an additional 29,483 shares during the period. 93.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HHH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Howard Hughes from $76.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Wall Street Zen upgraded Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Howard Hughes in a report on Monday, December 1st. Finally, Zacks Research downgraded shares of Howard Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.33.

Howard Hughes Stock Down 0.9%

Shares of NYSE HHH opened at $86.44 on Friday. The stock has a market capitalization of $5.13 billion, a P/E ratio of 16.85 and a beta of 1.22. The stock’s fifty day moving average is $83.28 and its 200 day moving average is $76.00. Howard Hughes Holdings Inc. has a 52 week low of $61.40 and a 52 week high of $91.07. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.18 and a current ratio of 1.18.

Howard Hughes (NYSE:HHH) last posted its quarterly earnings data on Monday, November 10th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.46. Howard Hughes had a net margin of 14.95% and a return on equity of 11.06%. The business had revenue of $390.24 million during the quarter, compared to analysts’ expectations of $331.52 million. During the same quarter in the prior year, the business posted $1.95 earnings per share. Howard Hughes’s revenue was up 19.3% compared to the same quarter last year. Sell-side analysts forecast that Howard Hughes Holdings Inc. will post 3.7 earnings per share for the current fiscal year.

Insider Activity at Howard Hughes

In other Howard Hughes news, Director Mary Ann Tighe sold 6,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $88.83, for a total value of $532,980.00. Following the sale, the director owned 13,495 shares of the company’s stock, valued at approximately $1,198,760.85. This trade represents a 30.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anthony Williams sold 1,100 shares of Howard Hughes stock in a transaction on Friday, September 26th. The shares were sold at an average price of $79.58, for a total value of $87,538.00. Following the completion of the transaction, the director owned 8,102 shares in the company, valued at approximately $644,757.16. The trade was a 11.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 48.00% of the company’s stock.

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.