Forager Capital Management LLC Boosts Holdings in Hovnanian Enterprises, Inc. (NYSE:HOV)

Forager Capital Management LLC lifted its position in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,000 shares of the construction company's stock after buying an additional 4,000 shares during the quarter. Hovnanian Enterprises comprises approximately 9.4% of Forager Capital Management LLC's holdings, making the stock its 4th largest position. Forager Capital Management LLC owned 1.93% of Hovnanian Enterprises worth $23,911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HOV. FMR LLC increased its position in Hovnanian Enterprises by 20.6% during the third quarter. FMR LLC now owns 346 shares of the construction company's stock worth $71,000 after acquiring an additional 59 shares during the period. Meeder Asset Management Inc. increased its position in Hovnanian Enterprises by 2.9% during the second quarter. Meeder Asset Management Inc. now owns 2,223 shares of the construction company's stock worth $315,000 after acquiring an additional 63 shares during the period. Koss Olinger Consulting LLC increased its position in Hovnanian Enterprises by 3.5% during the third quarter. Koss Olinger Consulting LLC now owns 3,404 shares of the construction company's stock worth $696,000 after acquiring an additional 115 shares during the period. Range Financial Group LLC increased its position in Hovnanian Enterprises by 2.6% during the second quarter. Range Financial Group LLC now owns 4,595 shares of the construction company's stock worth $652,000 after acquiring an additional 117 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Hovnanian Enterprises by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company's stock worth $274,000 after acquiring an additional 145 shares during the period. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Hovnanian Enterprises Stock Performance

Hovnanian Enterprises stock traded down $2.73 on Wednesday, hitting $164.77. The company's stock had a trading volume of 75,843 shares, compared to its average volume of 79,647. The firm has a market cap of $996.86 million, a P/E ratio of 5.22 and a beta of 2.62. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average price of $184.39 and a 200-day moving average price of $181.20. Hovnanian Enterprises, Inc. has a one year low of $125.63 and a one year high of $240.34.

Insider Buying and Selling at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 13,552 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $215.14, for a total value of $2,915,577.28. Following the sale, the chief executive officer now owns 47,279 shares of the company's stock, valued at $10,171,604.06. The trade was a 22.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director J Larry Sorsby sold 4,062 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $225.61, for a total transaction of $916,427.82. Following the completion of the sale, the director now directly owns 127,982 shares in the company, valued at approximately $28,874,019.02. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,289 shares of company stock valued at $5,158,796 in the last 90 days. 17.67% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Hovnanian Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd.

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.