Howard Hughes (NYSE:HHC) Sees Unusually-High Trading Volume

Shares of Howard Hughes Corp (NYSE:HHC) saw unusually-strong trading volume on Thursday . Approximately 6,370,685 shares changed hands during mid-day trading, an increase of 2,757% from the previous session’s volume of 222,967 shares.The stock last traded at $131.25 and had previously closed at $92.59.

A number of research firms have commented on HHC. TheStreet raised shares of Howard Hughes from a “c” rating to a “b-” rating in a research report on Friday, April 26th. Zacks Investment Research raised shares of Howard Hughes from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research report on Tuesday, April 16th.

The firm’s 50-day moving average price is $105.00. The firm has a market capitalization of $5.66 billion, a P/E ratio of 93.82 and a beta of 1.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.36 and a current ratio of 1.36.

Howard Hughes (NYSE:HHC) last announced its earnings results on Monday, May 6th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.32. The company had revenue of $353.89 million during the quarter, compared to analysts’ expectations of $292.82 million. Howard Hughes had a net margin of 6.95% and a return on equity of 2.71%. Howard Hughes’s quarterly revenue was up 118.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. As a group, equities analysts forecast that Howard Hughes Corp will post 3.94 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc boosted its position in shares of Howard Hughes by 6.9% in the third quarter. Vanguard Group Inc now owns 5,623,471 shares of the financial services provider’s stock valued at $698,548,000 after acquiring an additional 362,699 shares during the period. Principal Financial Group Inc. boosted its position in shares of Howard Hughes by 16.7% in the first quarter. Principal Financial Group Inc. now owns 2,161,206 shares of the financial services provider’s stock valued at $237,732,000 after acquiring an additional 309,546 shares during the period. BlackRock Inc. boosted its position in shares of Howard Hughes by 2.7% in the fourth quarter. BlackRock Inc. now owns 1,808,762 shares of the financial services provider’s stock valued at $176,570,000 after acquiring an additional 47,786 shares during the period. Baillie Gifford & Co. boosted its position in shares of Howard Hughes by 2.4% in the fourth quarter. Baillie Gifford & Co. now owns 1,726,502 shares of the financial services provider’s stock valued at $168,542,000 after acquiring an additional 40,231 shares during the period. Finally, FMR LLC boosted its position in shares of Howard Hughes by 13.5% in the first quarter. FMR LLC now owns 826,538 shares of the financial services provider’s stock valued at $90,920,000 after acquiring an additional 98,150 shares during the period. 83.93% of the stock is owned by institutional investors.

About Howard Hughes (NYSE:HHC)

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. It operates through three segments: Operating Assets, Master Planned Communities, and Strategic Developments. The Operating Assets segment owns 15 retail, 28 office, 8 multi-family, and 4 hospitality properties, as well as 10 other operating assets and investments primarily located and around The Woodlands, Texas; Columbia, Maryland; New York, New York; Las Vegas, Nevada; and Honolulu, Hawai‘i.

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