Howard Hughes Co. (HHC) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Howard Hughes Co. (NYSE:HHC) by 156.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,771 shares of the financial services provider’s stock after buying an additional 19,371 shares during the period. Renaissance Technologies LLC owned 0.07% of Howard Hughes worth $4,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Moors & Cabot Inc. acquired a new position in Howard Hughes during the fourth quarter worth approximately $298,000. Lombard Odier Asset Management USA Corp increased its holdings in shares of Howard Hughes by 9.3% in the fourth quarter. Lombard Odier Asset Management USA Corp now owns 82,101 shares of the financial services provider’s stock valued at $10,777,000 after purchasing an additional 7,018 shares during the period. Geode Capital Management LLC increased its holdings in shares of Howard Hughes by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 311,037 shares of the financial services provider’s stock valued at $40,829,000 after purchasing an additional 4,304 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Howard Hughes by 20.8% in the fourth quarter. Allianz Asset Management GmbH now owns 535,789 shares of the financial services provider’s stock valued at $70,334,000 after purchasing an additional 92,340 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of Howard Hughes by 467.0% in the fourth quarter. Assetmark Inc. now owns 1,100 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 906 shares during the period. 84.18% of the stock is currently owned by institutional investors.

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NYSE:HHC opened at $137.64 on Friday. The company has a market capitalization of $6,004.23, a PE ratio of 88.12 and a beta of 1.17. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.90. Howard Hughes Co. has a 12-month low of $114.28 and a 12-month high of $140.38.

Howard Hughes (NYSE:HHC) last released its earnings results on Monday, February 26th. The financial services provider reported $3.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $3.19. The business had revenue of $300.98 million for the quarter, compared to analyst estimates of $239.83 million. Howard Hughes had a return on equity of 2.52% and a net margin of 15.31%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. equities analysts predict that Howard Hughes Co. will post 1.1 earnings per share for the current year.

In related news, CEO David Weinreb sold 400,000 shares of Howard Hughes stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $138.46, for a total value of $55,384,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sarah M. Vasquez sold 7,500 shares of Howard Hughes stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $134.80, for a total value of $1,011,000.00. Following the completion of the sale, the executive vice president now owns 11,582 shares in the company, valued at $1,561,253.60. The disclosure for this sale can be found here. In the last three months, insiders sold 416,945 shares of company stock worth $57,689,910. Corporate insiders own 10.10% of the company’s stock.

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

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Howard Hughes 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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