Grand Jean Capital Management Inc. Acquires New Position in Howard Hughes Corp (NYSE:HHC)

Grand Jean Capital Management Inc. acquired a new stake in shares of Howard Hughes Corp (NYSE:HHC) during the 1st quarter, HoldingsChannel reports. The fund acquired 26,667 shares of the financial services provider’s stock, valued at approximately $2,933,000. Howard Hughes makes up 1.2% of Grand Jean Capital Management Inc.’s holdings, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc lifted its stake in shares of Howard Hughes by 6.9% during 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 buying an additional 362,699 shares during the period. Principal Financial Group Inc. increased its position in Howard Hughes by 16.7% during the first quarter. Principal Financial Group Inc. now owns 2,161,206 shares of the financial services provider’s stock worth $237,732,000 after purchasing an additional 309,546 shares during the last quarter. BlackRock Inc. increased its position in Howard Hughes by 1.6% during the first quarter. BlackRock Inc. now owns 1,837,291 shares of the financial services provider’s stock worth $202,103,000 after purchasing an additional 28,529 shares during the last quarter. Baillie Gifford & Co. increased its position in Howard Hughes by 2.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,726,502 shares of the financial services provider’s stock worth $168,542,000 after purchasing an additional 40,231 shares during the last quarter. Finally, FMR LLC increased its position in Howard Hughes by 18.9% during the fourth quarter. FMR LLC now owns 728,388 shares of the financial services provider’s stock worth $71,105,000 after purchasing an additional 115,967 shares during the last quarter. 88.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of HHC stock opened at $101.84 on Friday. Howard Hughes Corp has a one year low of $89.51 and a one year high of $142.36. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.00. The company has a market cap of $4.36 billion, a P/E ratio of 77.15 and a beta of 1.23.

Howard Hughes (NYSE:HHC) last issued its quarterly earnings results on Monday, May 6th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.42 by $0.32. Howard Hughes had a net margin of 6.95% and a return on equity of 2.71%. The firm had revenue of $353.89 million during the quarter, compared to analyst estimates of $292.82 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. Howard Hughes’s revenue for the quarter was up 118.9% compared to the same quarter last year. Research analysts anticipate that Howard Hughes Corp will post 2.65 EPS for the current year.

Several equities analysts recently commented on HHC shares. Zacks Investment Research raised shares of Howard Hughes from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Wednesday, April 24th. TheStreet lowered shares of Howard Hughes from a “b-” rating to a “c” rating in a research report on Wednesday, May 29th.

COPYRIGHT VIOLATION WARNING: “Grand Jean Capital Management Inc. Acquires New Position in Howard Hughes Corp (NYSE:HHC)” was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The correct version of this article can be accessed at https://sportsperspectives.com/2019/06/14/grand-jean-capital-management-inc-acquires-new-position-in-howard-hughes-corp-nysehhc.html.

Howard Hughes Profile

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.

See Also: Strangles

Want to see what other hedge funds are holding HHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Howard Hughes Corp (NYSE:HHC).

Institutional Ownership by Quarter for Howard Hughes (NYSE:HHC)

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.