50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Activist investor increases stake in Howard Hughes Holdings

Published 07/11/2023, 06:00
Activist investor increases stake in Howard Hughes Holdings
HHH
-

In a move that slightly expanded his $10.82 billion portfolio, activist investor Bill Ackman from Gotham Partners LP and Pershing Square boosted his stake in Howard Hughes Holdings Inc (NYSE:HHH) on Monday. Ackman acquired an additional 119,370 shares at a purchase price of $71.92 per share, raising his stake to 11.83%.

Ackman's portfolio primarily focuses on undervalued public companies. It includes notable firms such as Chipotle Mexican Grill Inc (NYSE:CMG), Hilton Worldwide Holdings (NYSE:HLT) Inc, Lowe's Companies Inc (NYSE:LOW), and Restaurant Brands International Inc. (NYSE:QSR)

Howard Hughes Holdings Inc is a leading US real estate company that manages various types of properties across the country. The acquisition underscores Ackman's investment strategy targeting undervalued firms with potential for growth.

InvestingPro Insights

Drawing on the latest real-time data from InvestingPro, Howard Hughes Holdings Inc. holds a market capitalization of $3580 million and a P/E ratio of 30.01, which adjusts to 34.45 for the last twelve months as of Q2 2023. Revenue growth for the same period is reported at 1.94%, with a slight decline in the quarterly figures for Q2 2023 at -19.3%.

From the InvestingPro Tips, it's worth noting that Howard Hughes Holdings Inc. has seen a significant return over the last week, which aligns with Ackman's recent acquisition. The company's management has also been aggressively buying back shares, further indicating their confidence in the firm's prospects. However, analysts predict a drop in net income this year, a factor that potential investors should consider.

For those seeking more in-depth insights, InvestingPro offers a comprehensive list of 11 additional tips related to Howard Hughes Holdings Inc. These tips, coupled with real-time data, can help investors make informed decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.