Twin Tree Management LP Boosts Stake in Howard Hughes Co. (HHC)

Twin Tree Management LP grew its holdings in Howard Hughes Co. (NYSE:HHC) by 747.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,860 shares of the financial services provider’s stock after purchasing an additional 10,460 shares during the period. Twin Tree Management LP’s holdings in Howard Hughes were worth $1,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of HHC. State of New Jersey Common Pension Fund D increased its holdings in Howard Hughes by 2.9% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 229,704 shares of the financial services provider’s stock worth $31,959,000 after acquiring an additional 6,500 shares during the period. Aperio Group LLC grew its stake in Howard Hughes by 6.2% in the 1st quarter. Aperio Group LLC now owns 18,456 shares of the financial services provider’s stock worth $2,568,000 after buying an additional 1,071 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Howard Hughes by 4.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 192,058 shares of the financial services provider’s stock worth $26,722,000 after buying an additional 8,475 shares in the last quarter. Becker Capital Management Inc. grew its stake in Howard Hughes by 1.5% in the 1st quarter. Becker Capital Management Inc. now owns 414,664 shares of the financial services provider’s stock worth $57,692,000 after buying an additional 6,135 shares in the last quarter. Finally, PenderFund Capital Management Ltd. grew its stake in Howard Hughes by 24.9% in the 1st quarter. PenderFund Capital Management Ltd. now owns 85,282 shares of the financial services provider’s stock worth $11,670,000 after buying an additional 16,992 shares in the last quarter. 84.45% of the stock is currently owned by institutional investors.

In other news, insider Reuben Seth Davidsohn sold 9,445 shares of the company’s stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $137.10, for a total value of $1,294,909.50. Following the completion of the sale, the insider now owns 37,175 shares of the company’s stock, valued at approximately $5,096,692.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sarah M. Vasquez sold 7,500 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $134.80, for a total transaction of $1,011,000.00. Following the completion of the sale, the executive vice president now directly owns 11,582 shares of the company’s stock, valued at approximately $1,561,253.60. The disclosure for this sale can be found here. Insiders sold a total of 416,945 shares of company stock valued at $57,689,910 in the last ninety days. 10.10% of the stock is owned by corporate insiders.

A number of equities analysts have commented on HHC shares. Zacks Investment Research cut shares of Howard Hughes from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. TheStreet raised shares of Howard Hughes from a “c” rating to a “b-” rating in a research note on Wednesday, March 28th. Finally, Sandler O’Neill set a $140.00 price target on shares of Howard Hughes and gave the stock a “hold” rating in a research note on Thursday, March 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Howard Hughes presently has a consensus rating of “Hold” and an average target price of $145.00.

Shares of Howard Hughes traded down $0.18, reaching $129.40, during trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 200 shares, compared to its average volume of 291,634. Howard Hughes Co. has a 52-week low of $129.05 and a 52-week high of $130.24. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 79.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.60 and a current ratio of 1.60.

Howard Hughes (NYSE:HHC) last announced its quarterly earnings data on Tuesday, May 1st. The financial services provider reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.46). Howard Hughes had a net margin of 15.94% and a return on equity of 2.29%. The business had revenue of $161.68 million during the quarter, compared to analysts’ expectations of $266.77 million. During the same period last year, the company posted $0.13 EPS. Howard Hughes’s revenue for the quarter was down 30.2% on a year-over-year basis. equities research analysts forecast that Howard Hughes Co. will post -0.37 earnings per share for the current fiscal year.

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.

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

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