Renowned investor Bill Ackman (Trades, Portfolio) has recently increased his stake in Howard Hughes Holdings Inc (HHH, Financial), a leading real estate company in the USA. This article will delve into the details of this transaction, provide an overview of Ackman's investment philosophy, and offer insights into Howard Hughes Holdings Inc's performance and valuation.
Details of the Transaction
The transaction took place on October 27, 2023, with Ackman adding 116,070 shares to his holdings. The shares were purchased at a price of $66.88 each, resulting in a 0.66% change in shares and a 0.07% impact on the portfolio. Following this transaction, Ackman's total holdings in Howard Hughes Holdings Inc stand at 17,586,236 shares, representing 10.87% of his portfolio and 35.10% of the company's outstanding shares.
Profile of Bill Ackman (Trades, Portfolio)
Bill Ackman (Trades, Portfolio), the co-investment manager for hedge-fund group Gotham Partners LP, established Pershing Square in November 2003. Ackman is an activist investor who buys the common stocks of public companies and pushes for changes to realize their values. He typically purchases stocks trading at a discount and sells when the companies reach their appraised value. Ackman's portfolio consists of 8 stocks, with a total equity of $10.82 billion. His top holdings include Chipotle Mexican Grill Inc(CMG, Financial), Howard Hughes Holdings Inc(HHH, Financial), Hilton Worldwide Holdings Inc(HLT, Financial), Lowe's Companies Inc(LOW, Financial), and Restaurant Brands International Inc(QSR, Financial). His investments are primarily concentrated in the Consumer Cyclical and Communication Services sectors.
Overview of Howard Hughes Holdings Inc
Howard Hughes Holdings Inc is a prominent real estate company in the USA, owning, managing, and developing commercial, residential, and mixed-use real estate. The company's portfolio is strategically positioned to meet and accelerate development based on market demand. The company operates through several segments, including Master Planned Communities (MPC), Operating Assets, Seaport, Strategic Developments, and Corporate revenues. As of October 28, 2023, the company has a market capitalization of $3.29 billion and a stock price of $65.63. The company's PE ratio stands at 27.23, indicating a modestly undervalued status according to the GF-Score.
Performance and Rankings of Howard Hughes Holdings Inc
Since its IPO on November 5, 2010, Howard Hughes Holdings Inc has seen a price change of 111.71%. However, the year-to-date performance shows a decline of 13.83%. The company's financial strength is ranked 3/10, while its profitability rank is 6/10. The company's growth rank is 5/10, and its GF Value Rank is 6/10. The company's momentum rank is 10/10, indicating strong momentum in the stock's price.
Other Gurus Holding Howard Hughes Holdings Inc
Other notable gurus holding shares in Howard Hughes Holdings Inc include Barrow, Hanley, Mewhinney & Strauss, Donald Smith & Co, and Joel Greenblatt (Trades, Portfolio).
Conclusion
Bill Ackman (Trades, Portfolio)'s recent addition to his stake in Howard Hughes Holdings Inc is a significant move that reflects his confidence in the company's potential. The transaction has further solidified his position in the company, making him one of the largest shareholders. This move could potentially influence other investors and impact the company's stock performance. As always, investors are advised to conduct their own comprehensive analysis before making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
