Hovnanian Enterprises, Inc. (NYSE:HOV) Stock Position Cut by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,035 shares of the construction company's stock after selling 15,526 shares during the period. Assenagon Asset Management S.A. owned about 0.53% of Hovnanian Enterprises worth $4,287,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Hovnanian Enterprises during the third quarter worth about $687,000. Charles Schwab Investment Management Inc. grew its position in shares of Hovnanian Enterprises by 92.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company's stock worth $10,212,000 after acquiring an additional 23,990 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Hovnanian Enterprises in the 2nd quarter valued at approximately $352,000. JPMorgan Chase & Co. raised its position in shares of Hovnanian Enterprises by 98.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company's stock valued at $6,023,000 after acquiring an additional 14,624 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Hovnanian Enterprises during the third quarter worth $33,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Hovnanian Enterprises Stock Performance

Shares of NYSE HOV traded down $0.60 during mid-day trading on Tuesday, hitting $138.72. The company had a trading volume of 38,118 shares, compared to its average volume of 76,556. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. The stock has a market cap of $840.63 million, a price-to-earnings ratio of 4.32 and a beta of 2.70. Hovnanian Enterprises, Inc. has a 12 month low of $115.90 and a 12 month high of $240.34. The firm's 50 day simple moving average is $154.43 and its two-hundred day simple moving average is $179.31.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a "neutral" rating and set a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday, December 16th.

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.