Insider Activity Report: Howard Hughes Holdings (HHH)

Pershing Square Capital Management, a major holder with a director’s seat at Howard Hughes Holdings (HHH), recently added to its position with a 80,391 share buy. The total cost came to just under $5.97 million.

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  • This buy follows up on two other buys made by the fund in August, totaling just under 20,000 shares. Otherwise, there has been one insider sale, from a division president last month for about $150,000 of shares.

    In total, company insiders own less than 1 percent of shares, and Pershing Square owns over $1.2 billion of shares, nearly one third of total shares.

    Shares are slightly higher this year, and the company renamed itself to the ETFMG Real Estate Tech ETF back in August.

    The land development company has been trending down recently, likely in-line with the drop in the stock market.

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  • Action to take: Investors interested in real estate development over the long haul may like shares at current or lower prices. As a developer, the company does not offer an income from a dividend, and earnings may be jumpy.

    For traders, shares are in a downtrend right now, a trend likely to continue. The December $70 puts, last going for about $2.30, could see mid-double-digit gains or better from here in the weeks ahead.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.


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