Howard Hughes Holdings Inc. (NYSE:HHH) Sees Large Growth in Short Interest

Howard Hughes Holdings Inc. (NYSE:HHH) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 2,450,000 shares, a growth of 8.4% from the May 15th total of 2,260,000 shares. Based on an average daily trading volume, of 385,600 shares, the days-to-cover ratio is presently 6.4 days. Approximately 4.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Howard Hughes

Several hedge funds have recently bought and sold shares of HHH. Fidelis Capital Partners LLC purchased a new stake in shares of Howard Hughes during the 1st quarter valued at $26,000. International Assets Investment Management LLC bought a new position in Howard Hughes in the fourth quarter valued at $44,000. Fifth Third Bancorp purchased a new stake in Howard Hughes during the first quarter valued at about $38,000. Baker Avenue Asset Management LP purchased a new position in shares of Howard Hughes in the 3rd quarter worth about $45,000. Finally, Citigroup Inc. bought a new position in shares of Howard Hughes during the 3rd quarter valued at about $48,000. 93.83% of the stock is currently owned by institutional investors.

Howard Hughes Stock Performance

Shares of HHH opened at $65.43 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.79. The stock has a 50-day moving average price of $65.52 and a 200-day moving average price of $73.55. The company has a market cap of $3.29 billion, a PE ratio of -5.58 and a beta of 1.50. Howard Hughes has a 12-month low of $59.00 and a 12-month high of $86.72.

Wall Street Analyst Weigh In

HHH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Howard Hughes from $90.00 to $84.00 and set an “overweight” rating on the stock in a report on Tuesday, April 16th. Jefferies Financial Group cut their price target on shares of Howard Hughes from $89.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, June 4th.

About Howard Hughes

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.