Short Interest in Howard Hughes Holdings Inc. (NYSE:HHH) Drops By 9.2%

Howard Hughes Holdings Inc. (NYSE:HHH) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 1,980,000 shares, a decline of 9.2% from the August 31st total of 2,180,000 shares. Approximately 4.0% of the shares of the stock are short sold. Based on an average daily volume of 308,200 shares, the short-interest ratio is presently 6.4 days.

Howard Hughes Price Performance

Shares of HHH stock traded up $0.75 during trading hours on Friday, hitting $77.74. The stock had a trading volume of 167,888 shares, compared to its average volume of 300,816. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -6.63 and a beta of 1.45. Howard Hughes has a one year low of $59.00 and a one year high of $86.72. The stock’s 50-day moving average price is $72.74 and its two-hundred day moving average price is $68.96.

Howard Hughes (NYSE:HHH) last released its quarterly earnings results on Friday, July 26th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.14. The business had revenue of $317.40 million during the quarter, compared to analysts’ expectations of $239.73 million. Howard Hughes had a negative return on equity of 0.33% and a negative net margin of 49.52%. The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.39) EPS. Equities analysts forecast that Howard Hughes will post 3.05 EPS for the current year.

Institutional Investors Weigh In On Howard Hughes

Several large investors have recently bought and sold shares of HHH. Pershing Square Capital Management L.P. lifted its position in Howard Hughes by 12.2% during the fourth quarter. Pershing Square Capital Management L.P. now owns 18,852,064 shares of the company’s stock valued at $1,612,794,000 after purchasing an additional 2,045,156 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in Howard Hughes by 27.5% during the second quarter. Donald Smith & CO. Inc. now owns 1,652,046 shares of the company’s stock worth $107,086,000 after acquiring an additional 356,025 shares during the last quarter. Norges Bank purchased a new stake in Howard Hughes during the fourth quarter valued at approximately $26,369,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Howard Hughes by 81.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 337,440 shares of the company’s stock valued at $24,505,000 after purchasing an additional 151,341 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Howard Hughes by 50.0% during the 2nd quarter. Victory Capital Management Inc. now owns 312,181 shares of the company’s stock valued at $20,236,000 after buying an additional 103,995 shares during the period. Institutional investors own 93.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group cut their price objective on shares of Howard Hughes from $89.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, June 4th.

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.