Verition Fund Management LLC Sells 176,998 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Verition Fund Management LLC trimmed its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 16.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 881,290 shares of the real estate investment trust's stock after selling 176,998 shares during the quarter. Verition Fund Management LLC owned approximately 0.62% of Hudson Pacific Properties worth $4,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Anthracite Investment Company Inc. acquired a new stake in shares of Hudson Pacific Properties in the third quarter worth about $1,320,000. Wolverine Asset Management LLC lifted its holdings in Hudson Pacific Properties by 42.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust's stock worth $2,755,000 after purchasing an additional 171,424 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Hudson Pacific Properties during the third quarter valued at approximately $1,332,000. Millennium Management LLC raised its position in shares of Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust's stock valued at $8,594,000 after purchasing an additional 1,319,869 shares during the period. Finally, Scion Asset Management LLC acquired a new stake in shares of Hudson Pacific Properties in the second quarter worth $5,505,000. Institutional investors own 97.58% of the company's stock.

Hudson Pacific Properties Price Performance

HPP stock traded up $0.10 during trading on Wednesday, hitting $3.81. The company had a trading volume of 1,762,979 shares, compared to its average volume of 2,456,278. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The company has a fifty day moving average price of $4.26 and a two-hundred day moving average price of $4.77. Hudson Pacific Properties, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $9.85. The company has a market cap of $537.38 million, a P/E ratio of -1.77 and a beta of 1.27.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BMO Capital Markets lowered shares of Hudson Pacific Properties from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $8.00 to $6.00 in a research report on Thursday, August 8th. The Goldman Sachs Group lowered their target price on Hudson Pacific Properties from $6.50 to $4.70 and set a "neutral" rating on the stock in a report on Wednesday, August 14th. Jefferies Financial Group lowered Hudson Pacific Properties from a "buy" rating to a "hold" rating and cut their price target for the stock from $5.50 to $5.00 in a report on Tuesday, November 12th. Piper Sandler lowered their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Finally, Wells Fargo & Company reduced their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an "equal weight" rating for the company in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Hudson Pacific Properties currently has an average rating of "Hold" and a consensus price target of $6.17.

Insider Activity

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the transaction, the chief operating officer now owns 61,068 shares in the company, valued at approximately $322,439.04. The trade was a 13.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Victor J. Coleman bought 50,000 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $3.53 per share, for a total transaction of $176,500.00. Following the acquisition, the chief executive officer now directly owns 437,451 shares of the company's stock, valued at approximately $1,544,202.03. The trade was a 12.90 % increase in their position. The disclosure for this purchase can be found here. 3.92% of the stock is owned by corporate insiders.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties NYSE: HPP is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.