Rafferty Asset Management LLC Cuts Stake in Howard Hughes Corp (HHC)

Rafferty Asset Management LLC cut its position in Howard Hughes Corp (NYSE:HHC) by 10.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,136 shares of the financial services provider’s stock after selling 1,022 shares during the period. Rafferty Asset Management LLC’s holdings in Howard Hughes were worth $1,135,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in Howard Hughes during the second quarter worth about $130,000. Qube Research & Technologies Ltd acquired a new stake in Howard Hughes during the second quarter worth about $132,000. Pinnacle Financial Partners Inc. grew its holdings in Howard Hughes by 339.1% during the third quarter. Pinnacle Financial Partners Inc. now owns 1,335 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 1,031 shares during the period. CIBC Asset Management Inc acquired a new stake in Howard Hughes during the second quarter worth about $222,000. Finally, Security National Bank of Sioux City Iowa IA acquired a new stake in Howard Hughes during the second quarter worth about $232,000. 85.74% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on the company. Citigroup dropped their target price on Howard Hughes from $160.00 to $157.00 and set a “buy” rating on the stock in a report on Monday, August 13th. TheStreet lowered Howard Hughes from a “b-” rating to a “c+” rating in a report on Tuesday, September 18th. One research analyst has rated the stock with a hold rating and two have given a buy rating to the stock. Howard Hughes currently has an average rating of “Buy” and an average target price of $160.00.

Howard Hughes stock opened at $110.76 on Friday. The stock has a market cap of $4.76 billion, a P/E ratio of 63.94 and a beta of 1.20. Howard Hughes Corp has a 52 week low of $104.83 and a 52 week high of $142.36. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.03.

Howard Hughes (NYSE:HHC) last posted its earnings results on Monday, November 5th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.08). The company had revenue of $257.00 million for the quarter, compared to analyst estimates of $191.77 million. Howard Hughes had a return on equity of 2.38% and a net margin of 18.75%. The firm’s revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.24 earnings per share. Research analysts anticipate that Howard Hughes Corp will post 1.65 earnings per share for the current fiscal year.

In other Howard Hughes news, Director Jeffrey D. Furber purchased 1,000 shares of the stock in a transaction on Wednesday, November 28th. The shares were bought at an average price of $109.88 per share, for a total transaction of $109,880.00. Following the completion of the transaction, the director now owns 18,210 shares of the company’s stock, valued at approximately $2,000,914.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pershing Square Capital Manage sold 13,685 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $125.09, for a total value of $1,711,856.65. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 56,570 shares of company stock worth $6,188,272 and have sold 990,745 shares worth $109,891,796. Corporate insiders own 10.10% of the company’s stock.

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Howard Hughes Company Profile

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.

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Institutional Ownership by Quarter for Howard Hughes (NYSE:HHC)

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