Investors Buy Large Volume of Howard Hughes Call Options (NYSE:HHC)

Howard Hughes Corp (NYSE:HHC) was the target of unusually large options trading activity on Thursday. Stock traders bought 792 call options on the stock. This represents an increase of 1,340% compared to the typical daily volume of 55 call options.

A number of research firms have issued reports on HHC. BWS Financial restated a “market perform” rating and issued a $80.00 target price on shares of Howard Hughes in a report on Tuesday, May 5th. Zacks Investment Research lowered shares of Howard Hughes from a “buy” rating to a “hold” rating in a report on Wednesday, May 13th. TheStreet lowered shares of Howard Hughes from a “c-” rating to a “d” rating in a report on Monday, May 18th. Finally, Piper Sandler increased their target price on shares of Howard Hughes from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th.

HHC opened at $47.24 on Friday. The firm has a 50 day moving average price of $50.95 and a 200 day moving average price of $95.13. Howard Hughes has a 1 year low of $35.10 and a 1 year high of $135.42. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.91 and a quick ratio of 1.91.

Howard Hughes (NYSE:HHC) last issued its quarterly earnings data on Monday, May 11th. The financial services provider reported ($2.88) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($2.66). Howard Hughes had a negative net margin of 7.40% and a negative return on equity of 0.99%. The firm had revenue of $175.20 million during the quarter, compared to analyst estimates of $236.14 million. During the same period last year, the business earned $0.74 EPS. The firm’s revenue was down 50.4% compared to the same quarter last year. As a group, analysts forecast that Howard Hughes will post -6.58 earnings per share for the current fiscal year.

In other news, CEO Paul H. Layne bought 994 shares of Howard Hughes stock in a transaction on Tuesday, March 3rd. The shares were bought at an average cost of $110.12 per share, for a total transaction of $109,459.28. Following the acquisition, the chief executive officer now owns 29,341 shares in the company, valued at $3,231,030.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul H. Layne bought 4,040 shares of Howard Hughes stock in a transaction on Friday, March 27th. The stock was purchased at an average price of $50.01 per share, for a total transaction of $202,040.40. Following the completion of the acquisition, the chief executive officer now owns 37,371 shares in the company, valued at approximately $1,868,923.71. The disclosure for this purchase can be found here. Insiders purchased a total of 8,830 shares of company stock worth $659,766 over the last quarter. Insiders own 35.70% of the company’s stock.

A number of large investors have recently modified their holdings of HHC. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Howard Hughes in the first quarter valued at approximately $46,000. Whittier Trust Co. grew its position in Howard Hughes by 24,000.0% in the first quarter. Whittier Trust Co. now owns 964 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 960 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Howard Hughes by 165.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,075 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 670 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Howard Hughes in the first quarter valued at approximately $78,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Howard Hughes in the fourth quarter valued at approximately $120,000. 70.68% of the stock is owned by institutional investors.

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.

Featured Story: Market Indexes

Receive News & Ratings for Howard Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Howard Hughes and related companies with MarketBeat.com's FREE daily email newsletter.