Moors & Cabot Inc. purchased a new stake in Howard Hughes Corp (NYSE:HHC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,400 shares of the financial services provider’s stock, valued at approximately $376,000.
A number of other institutional investors have also made changes to their positions in HHC. Avestar Capital LLC boosted its stake in shares of Howard Hughes by 49.5% in the 4th quarter. Avestar Capital LLC now owns 996 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 330 shares in the last quarter. Creative Planning lifted its position in Howard Hughes by 5.0% during the 4th quarter. Creative Planning now owns 7,121 shares of the financial services provider’s stock worth $695,000 after buying an additional 340 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in Howard Hughes during the 4th quarter worth about $4,881,000. Los Angeles Capital Management & Equity Research Inc. lifted its position in Howard Hughes by 240.9% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 14,817 shares of the financial services provider’s stock worth $1,630,000 after buying an additional 10,470 shares in the last quarter. Finally, Vanguard Group Inc lifted its position in Howard Hughes by 6.9% during the 3rd quarter. Vanguard Group Inc now owns 5,623,471 shares of the financial services provider’s stock worth $698,548,000 after buying an additional 362,699 shares in the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded shares of Howard Hughes from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Howard Hughes has an average rating of “Buy” and a consensus target price of $151.25.
Howard Hughes (NYSE:HHC) last issued its quarterly earnings results on Monday, May 6th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.32. The business had revenue of $353.89 million for the quarter, compared to the consensus estimate of $292.82 million. Howard Hughes had a net margin of 6.95% and a return on equity of 2.71%. The firm’s quarterly revenue was up 118.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, sell-side analysts forecast that Howard Hughes Corp will post 1.11 earnings per share for the current fiscal year.
About Howard Hughes
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through three segments: Operating Assets, Master Planned Communities, and Strategic Developments. The Operating Assets segment owns 15 retail, 28 office, 8 multi-family, and 4 hospitality properties, as well as 10 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, Hawaii.
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