Foundry Partners LLC increased its holdings in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 53.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,809 shares of the construction company's stock after purchasing an additional 18,372 shares during the period. Foundry Partners LLC owned 0.87% of Hovnanian Enterprises worth $10,793,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Hovnanian Enterprises during the third quarter worth about $33,000. Innealta Capital LLC purchased a new position in shares of Hovnanian Enterprises in the 2nd quarter valued at approximately $37,000. EntryPoint Capital LLC grew its stake in shares of Hovnanian Enterprises by 309.9% in the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company's stock valued at $130,000 after purchasing an additional 626 shares during the last quarter. CWM LLC increased its holdings in shares of Hovnanian Enterprises by 89.6% in the third quarter. CWM LLC now owns 749 shares of the construction company's stock valued at $153,000 after purchasing an additional 354 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Hovnanian Enterprises during the second quarter worth approximately $156,000. 65.40% of the stock is owned by hedge funds and other institutional investors.
Hovnanian Enterprises Price Performance
Shares of HOV opened at $172.04 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock's 50 day moving average is $191.96 and its two-hundred day moving average is $179.01. The firm has a market capitalization of $1.04 billion, a PE ratio of 5.31 and a beta of 2.60. Hovnanian Enterprises, Inc. has a twelve month low of $86.61 and a twelve month high of $240.34.
Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its quarterly earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. The business had revenue of $722.70 million for the quarter. During the same period last year, the company earned $7.38 earnings per share. Research analysts anticipate that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.
Insider Buying and Selling at Hovnanian Enterprises
In related news, CEO Ara K. Hovnanian sold 644 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $194.99, for a total value of $125,573.56. Following the sale, the chief executive officer now directly owns 45,635 shares of the company's stock, valued at approximately $8,898,368.65. This represents a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $188.86, for a total transaction of $283,290.00. Following the transaction, the director now directly owns 13,290 shares of the company's stock, valued at approximately $2,509,949.40. This trade represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,057 shares of company stock valued at $12,824,040. Corporate insiders own 17.67% of the company's stock.
Wall Street Analyst Weigh In
Separately, StockNews.com cut shares of Hovnanian Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd.
View Our Latest Stock Report on Hovnanian Enterprises
About Hovnanian Enterprises
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding HOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Hovnanian Enterprises, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hovnanian Enterprises wasn't on the list.
While Hovnanian Enterprises currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
