Donald Smith & CO. Inc. Invests $71.69 Million in Howard Hughes Holdings Inc. $HHH

Donald Smith & CO. Inc. bought a new stake in Howard Hughes Holdings Inc. (NYSE:HHH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,002,809 shares of the company’s stock, valued at approximately $71,691,000. Howard Hughes accounts for about 1.3% of Donald Smith & CO. Inc.’s portfolio, making the stock its 28th largest holding. Donald Smith & CO. Inc. owned about 1.68% of Howard Hughes as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC purchased a new position in Howard Hughes in the fourth quarter valued at about $511,000. JCP Investment Management LLC boosted its position in shares of Howard Hughes by 29.3% in the first quarter. JCP Investment Management LLC now owns 234,100 shares of the company’s stock worth $14,809,000 after buying an additional 53,000 shares during the period. M&T Bank Corp purchased a new stake in shares of Howard Hughes in the fourth quarter worth about $4,208,000. Candriam S.C.A. grew its stake in shares of Howard Hughes by 158.9% in the first quarter. Candriam S.C.A. now owns 54,136 shares of the company’s stock valued at $3,425,000 after buying an additional 33,228 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Howard Hughes by 14.8% in the first quarter. Bank of America Corp DE now owns 304,520 shares of the company’s stock valued at $19,264,000 after buying an additional 39,246 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Howard Hughes Stock Down 1.8%

Shares of Howard Hughes stock opened at $66.72 on Friday. Howard Hughes Holdings Inc. has a 1-year low of $61.01 and a 1-year high of $91.07. The company has a market capitalization of $3.98 billion, a PE ratio of 13.51 and a beta of 1.14. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.58 and a quick ratio of 1.58. The business has a 50-day moving average of $68.66 and a 200-day moving average of $68.07.

Howard Hughes (NYSE:HHH) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $0.49 by $2.19. The business had revenue of $1.12 billion for the quarter. Howard Hughes had a return on equity of 10.19% and a net margin of 12.31%.The company’s revenue was up 330.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) EPS. As a group, equities analysts forecast that Howard Hughes Holdings Inc. will post 2.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings raised shares of Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Zacks Research lowered shares of Howard Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Howard Hughes from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $79.00.

Insider Transactions at Howard Hughes

In other Howard Hughes news, Director Mary Ann Tighe sold 13,495 shares of Howard Hughes stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total transaction of $907,538.75. The transaction was disclosed in a filing with the SEC, which is available through this link. 48.00% of the stock is owned by corporate insiders.

Howard Hughes Company Profile

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.