Howard Hughes (NYSE:HHH) Shares Gap Up - Should You Buy?

Shares of Howard Hughes Holdings Inc. (NYSE:HHH - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $71.78, but opened at $77.68. Howard Hughes shares last traded at $80.04, with a volume of 398,962 shares traded.

Howard Hughes Price Performance

The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 52.07 and a beta of 1.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.98. The company's 50-day moving average price is $80.49 and its 200-day moving average price is $75.49.

Howard Hughes (NYSE:HHH - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $1.76. The business had revenue of $327.15 million for the quarter, compared to analysts' expectations of $261.00 million. Howard Hughes had a net margin of 6.57% and a return on equity of 3.38%. The business's quarterly revenue was up 43.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.26) earnings per share. On average, equities research analysts forecast that Howard Hughes Holdings Inc. will post 3.28 EPS for the current year.

Institutional Trading of Howard Hughes

Several hedge funds have recently added to or reduced their stakes in HHH. Bridges Investment Management Inc. purchased a new position in Howard Hughes in the second quarter valued at approximately $428,000. PEAK6 Investments LLC grew its position in shares of Howard Hughes by 201.8% during the third quarter. PEAK6 Investments LLC now owns 17,683 shares of the company's stock worth $1,369,000 after acquiring an additional 11,824 shares during the last quarter. XTX Topco Ltd grew its position in Howard Hughes by 225.1% in the 2nd quarter. XTX Topco Ltd now owns 10,529 shares of the company's stock valued at $682,000 after buying an additional 7,290 shares during the last quarter. JPMorgan Chase & Co. grew its position in Howard Hughes by 225.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 487,092 shares of the company's stock valued at $37,716,000 after buying an additional 337,514 shares during the last quarter. Finally, Rule One Partners LLC purchased a new position in Howard Hughes in the 3rd quarter valued at $12,544,000. Institutional investors and hedge funds own 93.83% of the company's stock.

Howard Hughes Company Profile

Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments.