Howard Hughes Corp (NYSE:HHC) Short Interest Update

Howard Hughes Corp (NYSE:HHC) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 1,510,000 shares, a decrease of 7.4% from the December 15th total of 1,630,000 shares. Currently, 3.7% of the shares of the company are sold short. Based on an average daily trading volume, of 328,400 shares, the short-interest ratio is currently 4.6 days.

NYSE HHC traded up $0.74 during mid-day trading on Thursday, hitting $124.88. The stock had a trading volume of 5,456 shares, compared to its average volume of 213,791. The firm’s 50 day moving average is $119.71 and its 200 day moving average is $123.01. Howard Hughes has a twelve month low of $91.82 and a twelve month high of $135.42. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 94.47 and a beta of 1.31.

Howard Hughes (NYSE:HHC) last posted its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.58. Howard Hughes had a return on equity of 3.38% and a net margin of 7.58%. The firm had revenue of $231.17 million during the quarter, compared to the consensus estimate of $234.78 million. During the same period in the prior year, the company earned $0.54 EPS. The firm’s revenue was down 10.1% compared to the same quarter last year. As a group, equities research analysts expect that Howard Hughes will post 0.92 earnings per share for the current year.

In related news, EVP Sarah M. Vasquez sold 500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $126.07, for a total value of $63,035.00. Following the completion of the transaction, the executive vice president now directly owns 6,661 shares of the company’s stock, valued at approximately $839,752.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Adam R. Flatto acquired 3,000 shares of Howard Hughes stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $107.31 per share, with a total value of $321,930.00. Following the completion of the purchase, the director now owns 39,394 shares in the company, valued at approximately $4,227,370.14. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,753,072 shares of company stock worth $201,579,361. 7.45% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of HHC. Prudential Financial Inc. increased its stake in shares of Howard Hughes by 4.2% in the 2nd quarter. Prudential Financial Inc. now owns 2,492 shares of the financial services provider’s stock worth $309,000 after acquiring an additional 100 shares during the last quarter. US Bancorp DE increased its stake in shares of Howard Hughes by 2.9% in the 2nd quarter. US Bancorp DE now owns 4,300 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 120 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Howard Hughes by 79.3% during the 3rd quarter. Lindbrook Capital LLC now owns 373 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 165 shares during the last quarter. NEXT Financial Group Inc increased its position in shares of Howard Hughes by 12.8% during the 3rd quarter. NEXT Financial Group Inc now owns 1,669 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 190 shares during the last quarter. Finally, Independent Investors Inc. increased its position in shares of Howard Hughes by 0.6% during the 4th quarter. Independent Investors Inc. now owns 34,880 shares of the financial services provider’s stock worth $4,422,000 after purchasing an additional 200 shares during the last quarter. 84.80% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research downgraded Howard Hughes from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 4th.

About Howard Hughes

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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