Point72 Asset Management L.P. Invests $687,000 in Hovnanian Enterprises, Inc. (NYSE:HOV)

Point72 Asset Management L.P. bought a new position in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,360 shares of the construction company's stock, valued at approximately $687,000. Point72 Asset Management L.P. owned about 0.06% of Hovnanian Enterprises as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter worth about $33,000. Innealta Capital LLC acquired a new position in shares of Hovnanian Enterprises during the second quarter worth approximately $37,000. FMR LLC boosted its position in shares of Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company's stock valued at $71,000 after acquiring an additional 59 shares during the period. CWM LLC grew its stake in shares of Hovnanian Enterprises by 89.6% in the third quarter. CWM LLC now owns 749 shares of the construction company's stock worth $153,000 after acquiring an additional 354 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Hovnanian Enterprises during the second quarter worth $156,000. Institutional investors own 65.40% of the company's stock.

Insiders Place Their Bets

In related news, Director J Larry Sorsby sold 4,062 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now owns 127,982 shares in the company, valued at $28,874,019.02. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vincent Pagano, Jr. sold 3,000 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $201.11, for a total value of $603,330.00. Following the completion of the sale, the director now owns 24,552 shares in the company, valued at $4,937,652.72. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,289 shares of company stock worth $5,158,796 over the last 90 days. Corporate insiders own 17.67% of the company's stock.

Hovnanian Enterprises Stock Performance

Hovnanian Enterprises stock traded up $0.72 during trading hours on Thursday, hitting $164.51. The stock had a trading volume of 77,332 shares, compared to its average volume of 79,908. The company has a 50-day moving average of $182.98 and a two-hundred day moving average of $180.96. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Hovnanian Enterprises, Inc. has a fifty-two week low of $125.63 and a fifty-two week high of $240.34. The company has a market cap of $996.11 million, a PE ratio of 5.12 and a beta of 2.62.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Hovnanian Enterprises from a "buy" rating to a "hold" rating in a 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.