Howard Hughes Holdings Inc. (NYSE:HHH) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its position in Howard Hughes Holdings Inc. (NYSE:HHH) by 61.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 176,637 shares of the company’s stock after selling 286,081 shares during the quarter. Jennison Associates LLC owned about 0.35% of Howard Hughes worth $15,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. purchased a new position in Howard Hughes during the third quarter worth approximately $359,181,000. Baillie Gifford & Co. purchased a new position in Howard Hughes during the third quarter worth approximately $188,891,000. Principal Financial Group Inc. acquired a new stake in Howard Hughes during the third quarter worth $156,887,000. New South Capital Management Inc. acquired a new stake in Howard Hughes during the third quarter worth $47,706,000. Finally, Brandywine Global Investment Management LLC acquired a new stake in Howard Hughes during the third quarter worth $44,577,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Insiders Place Their Bets

In other news, insider Heath Melton sold 1,926 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $72.95, for a total value of $140,501.70. Following the completion of the sale, the insider now directly owns 9,274 shares of the company’s stock, valued at approximately $676,538.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.00% of the stock is owned by company insiders.

Howard Hughes Price Performance

HHH opened at $63.75 on Friday. Howard Hughes Holdings Inc. has a 12 month low of $59.00 and a 12 month high of $86.72. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.60 and a quick ratio of 1.60. The business has a fifty day moving average price of $71.13 and a 200 day moving average price of $74.64.

Howard Hughes (NYSE:HHH) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.25. The company had revenue of $335.84 million during the quarter, compared to the consensus estimate of $318.32 million. Howard Hughes had a negative return on equity of 0.62% and a negative net margin of 53.88%. As a group, sell-side analysts anticipate that Howard Hughes Holdings Inc. will post 2.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. dropped their price objective on Howard Hughes from $90.00 to $84.00 and set an “overweight” rating for the company in a research note on Tuesday, April 16th.

Howard Hughes 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.