Howard Hughes (NYSE:HHH) Shares Gap Up – Should You Buy?

Shares of Howard Hughes Holdings Inc. (NYSE:HHH) gapped up prior to trading on Monday . The stock had previously closed at $71.78, but opened at $77.68. Howard Hughes shares last traded at $80.04, with a volume of 398,962 shares trading hands.

Howard Hughes Stock Performance

The company has a market capitalization of $3.86 billion, a PE ratio of 51.00 and a beta of 1.48. The stock’s fifty day simple moving average is $80.49 and its 200-day simple moving average is $75.49. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.08 and a current ratio of 1.08.

Howard Hughes (NYSE:HHH) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $1.76. The business had revenue of $327.15 million for the quarter, compared to the consensus estimate of $261.00 million. Howard Hughes had a net margin of 6.57% and a return on equity of 3.38%. The company’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. As a group, equities analysts predict that Howard Hughes Holdings Inc. will post 3.28 earnings per share for the current year.

Institutional Investors Weigh In On Howard Hughes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. grew its position 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 valued at $107,086,000 after acquiring an additional 356,025 shares during the period. State Street Corp raised its stake in Howard Hughes by 3.2% during the third quarter. State Street Corp now owns 605,785 shares of the company’s stock valued at $46,906,000 after buying an additional 19,045 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Howard Hughes by 225.6% during the third quarter. JPMorgan Chase & Co. now owns 487,092 shares of the company’s stock worth $37,716,000 after purchasing an additional 337,514 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Howard Hughes by 22.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 456,083 shares of the company’s stock worth $35,315,000 after buying an additional 82,746 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Howard Hughes by 4.3% in the second quarter. Clearbridge Investments LLC now owns 340,194 shares of the company’s stock valued at $22,051,000 after acquiring an additional 13,880 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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.