Impax Asset Management Group plc Cuts Holdings in Howard Hughes Holdings Inc. $HHH

Impax Asset Management Group plc reduced its stake in shares of Howard Hughes Holdings Inc. (NYSE:HHH) by 53.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 110,000 shares of the company’s stock after selling 125,000 shares during the period. Impax Asset Management Group plc owned approximately 0.19% of Howard Hughes worth $9,039,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in HHH. Allworth Financial LP increased its position in shares of Howard Hughes by 134.2% during the 2nd quarter. Allworth Financial LP now owns 363 shares of the company’s stock valued at $25,000 after purchasing an additional 208 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Howard Hughes during the third quarter worth approximately $31,000. TD Waterhouse Canada Inc. boosted its stake in shares of Howard Hughes by 291.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 391 shares of the company’s stock valued at $27,000 after purchasing an additional 291 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Howard Hughes by 191.5% during 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. Finally, CWM LLC raised its position in Howard Hughes by 69.6% in the 3rd quarter. CWM LLC now owns 665 shares of the company’s stock worth $55,000 after purchasing an additional 273 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Insider Buying and Selling at Howard Hughes

In related news, Director Mary Ann Tighe sold 6,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $88.83, for a total transaction of $532,980.00. Following the sale, the director owned 13,495 shares of the company’s stock, valued at $1,198,760.85. The trade was a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director R Scot Sellers bought 5,000 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were acquired at an average cost of $77.94 per share, with a total value of $389,700.00. Following the purchase, the director directly owned 67,517 shares of the company’s stock, valued at approximately $5,262,274.98. This represents a 8.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 48.00% of the stock is owned by corporate insiders.

Howard Hughes Trading Down 1.7%

Shares of HHH opened at $83.40 on Thursday. Howard Hughes Holdings Inc. has a 1-year low of $61.40 and a 1-year high of $91.07. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.80. The firm’s 50-day moving average price is $81.92 and its 200-day moving average price is $80.34. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 16.26 and a beta of 1.24.

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

Wall Street Analyst Weigh In

HHH has been the topic of a number of recent research reports. Wall Street Zen raised 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 research note on Monday, December 29th. Finally, Zacks Research cut shares of Howard Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.33.

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. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.