Arrowstreet Capital Limited Partnership Has $2.46 Million Stock Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Arrowstreet Capital Limited Partnership reduced its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 68.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,403 shares of the construction company's stock after selling 39,312 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.30% of Hovnanian Enterprises worth $2,463,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Hovnanian Enterprises by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company's stock worth $319,000 after purchasing an additional 161 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Hovnanian Enterprises by 98.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company's stock worth $6,023,000 after buying an additional 14,624 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Hovnanian Enterprises during the 3rd quarter worth about $687,000. Forager Capital Management LLC increased its position in Hovnanian Enterprises by 3.5% in the 3rd quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company's stock valued at $23,911,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Hovnanian Enterprises by 352.6% during the third quarter. Barclays PLC now owns 8,274 shares of the construction company's stock worth $1,691,000 after purchasing an additional 6,446 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wedbush reissued a "neutral" rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a report on Monday, December 16th. StockNews.com cut Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Tuesday, March 18th. Finally, Zelman & Associates reaffirmed an "underperform" rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th.

Hovnanian Enterprises Trading Up 2.6 %

Shares of NYSE:HOV traded up $2.43 during mid-day trading on Tuesday, reaching $96.65. The stock had a trading volume of 12,172 shares, compared to its average volume of 80,760. The firm has a 50 day simple moving average of $109.34 and a two-hundred day simple moving average of $144.49. Hovnanian Enterprises, Inc. has a twelve month low of $81.15 and a twelve month high of $240.34. The firm has a market cap of $572.65 million, a PE ratio of 3.01 and a beta of 2.43. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its earnings results on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, topping the consensus estimate of $2.71 by $0.87. The firm had revenue of $673.62 million for the quarter, compared to the consensus estimate of $705.80 million. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.