On Jan. 06, Pershing Square Capital Management, L.P. invested U.S. $199,132,856 in shares of The Howard Hughes Corporation. The Dir, 10% acquired 2,516,846 shares at a cost per share of $79.12. The transaction increased this specific insider’s holdings to 13,470,008 shares worth around $1.09 billion at present.
Another 574,846 shares were sold by Pershing Square Capital Management, L.P., for more than $45,481,816 in total proceeds. The Dir, 10% dumped the shares at a price of $79.12 and the insider now owns almost 13,470,008 shares.
Piper Sandler took its The Howard Hughes Corporation [HHC] rating to the equivalent of an Overweight from a Neutral, and the price target to $70 from $50, in a research note dated August 11, 2020. That figure represents around a -15.51% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Piper Sandler’s analysts upgrading the shares from “a Neutral” rating to “an Overweight” rating in a research note to investors issued in mid August. Meanwhile, Piper Sandler had lowered its rating on HHC to “Neutral” from the earlier “an Overweight”, in a research note produced for clients March 26, 2020. In addition, there was a new coverage from Jefferies on July 02, 2018. The research firm rated HHC “a Buy”.
Is The Howard Hughes Corporation [NYSE:HHC] a Good Buy Right Now?
It should be noted that HHC technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from The Howard Hughes Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.59 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.46 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.4 million shares.
HHC Price Performance
On Wall Street, The Howard Hughes Corporation [NYSE:HHC] finished Friday’s session up 1.02% at $80.86. The stock went up to $81.78 at the same session while its lowest single day price was $79.25. In the last five days, it saw a rise of about 2.45%, The Howard Hughes Corporation shares gained by almost 2.45% since the beginning of the year. However, the share price has dropped to as low as -37.68% below its one year high. On 01/08/21, the company shares recorded $81.78, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $76.13. The company’s shares have declined by -32.66% in the past year. The 50-day SMA achieved is $74.25 while the 200-day SMA is $60.12. Volume dropped to 0.5 million from 0.78 million in the previous session.
HHC Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 79.48 level, and in case of violation of this particular level, it will cause more drop to 78.10 level. On the upper level, 83.16 is still the key resistance. The stock may increase to the subsequent resistance at 82.01. The Relative Strength Index (RSI) pinned on the 14-day chart is 63.92, implying a neutral technical stance while the MACD stands at 0.20, meaning price will decrease in the next trading period. Percent R indicator moved to 25.04%, implying bullish price movement. Stochastic %K at 61.44% suggest holding the stock.
What is the short interest in The Howard Hughes Corporation?
Short interest in the The Howard Hughes Corporation stock has plunged, decreasing by -0.16 million shares to total 1.9 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.74 million, data from Yahoo Finance shows. The increase of 8.42% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 6.18% of the overall float for the stock.
The Howard Hughes Corporation’s Biggest Shareholders: Who Owns The Howard Hughes Corporation [HHC]?
Filings by Pershing Square Capital Managemen showed that the firm now holds a total of 10,918,008 shares or roughly 19.88% of the outstanding HHC shares. This means their shares have reduced by 0 from the 10,918,008 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $409,815,731. Details in the latest 13F filings reveal that Nomura Securities Co., Ltd. acquired their 1.72% stake valued at $249,264,911 while Baillie Gifford & Co. cut theirs at $245,409,712. During the last quarter, Nomura Securities Co., Ltd. raised 58,019 of its shares in The Howard Hughes Corporation while Baillie Gifford & Co. sold -69,186 shares. The Principal Global Investors LLC’s holdings currently number 2,923,046 shares at $236357499.56. According to the firm’s last 13F report, Harris Associates LP shares in the company at filing stood at 2,008,885 shares, roughly $146,106,206.
HHC Earnings Forecast For The Current Quarter
The Howard Hughes Corporation [HHC] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $169.25M and an earnings per share of -$0.52 for Dec 2020. Looking further ahead, the company is expected to report revenue of $217M at an EPS of $0 for Mar 2021. The estimates represent downside of -33.20% and 193.00% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
HHC Earnings Estimates For The Current Year
For the financial year, The Howard Hughes Corporation [NYSE:HHC] is expected to bring in revenue of $655.04M. The returns are nearly $-644.96 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -2.7, lower than that of FY19 by -$4.41. Estimates put this year’s earnings growth at -257.90%, 193.00% for the next, and at an annual 20.00% over the next 5-year period. As for sales, forecasts are for a decrease of -49.60% in the current fiscal year and a further -33.20% over the following year.
What are analyst thoughts on The Howard Hughes Corporation?
Looking forward to the The Howard Hughes Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for The Howard Hughes Corporation stock at $82.00 within the next 12 months, which represents almost 1.39 per cent growth from its previous closing price of $80.86. The highest analysts’ target for The Howard Hughes Corporation stock projections is $90.00 and the lowest one is $80.00. Still, 3 analysts sharing their consensus rating for HHC stock in 2021 agree that it is a Buy.