Bill Ackman (Trades, Portfolio), the renowned activist investor and founder of Pershing Square, has recently increased his stake in The Howard Hughes Corporation (HHH, Financial). This article will delve into the details of the transaction, provide an overview of Ackman's investment philosophy, and analyze the performance and prospects of The Howard Hughes Corporation.
Details of the Transaction
The transaction took place on August 22, 2023, with Ackman adding 2,300 shares to his holdings. The shares were purchased at a price of $75.19 each. Following the transaction, Ackman's total holdings in The Howard Hughes Corporation stand at 16,588,891 shares, representing 11.53% of his portfolio and 33.11% of the company's outstanding shares.
Profile of Bill Ackman (Trades, Portfolio)
Bill Ackman (Trades, Portfolio) is the co-investment manager for hedge-fund group Gotham Partners LP and the founder of Pershing Square, which he formed in November 2003 with $54 million raised from three investors. Ackman's investment philosophy revolves around buying the common stocks of public companies at a discount and pushing for changes to realize their value. 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 firm's equity stands at $10.82 billion, with a focus on the Consumer Cyclical and Communication Services sectors.
Overview of The Howard Hughes Corporation
The Howard Hughes Corporation is a US-based real estate company that develops master-planned communities and is involved in other strategic real estate development opportunities across the United States. The company operates in four segments: Operating Assets, Master Planned Communities, Seaport, and Strategic Developments. The company's market capitalization stands at $3.83 billion, with a current stock price of $76.45. The company's Profitability Rank is 6/10, its Growth Rank is 5/10, and its GF Value Rank is 7/10.
Analysis of the Stock's Performance
Since the transaction, the stock has gained 1.68%. The year-to-date price change ratio stands at 0.38. The stock's GF Score is 77/100, indicating a likely average performance in the future.
Other Gurus' Involvement in the Stock
Other gurus who hold shares in The Howard Hughes Corporation include Barrow, Hanley, Mewhinney & Strauss, Donald Smith & Co, and Joel Greenblatt (Trades, Portfolio). The largest guru holder of the stock is Pershing Square Capital Management, L.P.
Conclusion
In conclusion, Bill Ackman (Trades, Portfolio)'s recent addition to his stake in The Howard Hughes Corporation reflects his confidence in the company's prospects. With a GF Score of 77/100, the stock is likely to have average performance in the future. However, as with any investment, it is crucial for investors to conduct their own research and analysis before making a decision.
