Range Financial Group LLC Acquires Shares of 5,708 Hovnanian Enterprises, Inc. (NYSE:HOV)

Range Financial Group LLC bought a new position in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,708 shares of the construction company's stock, valued at approximately $764,000. Range Financial Group LLC owned 0.09% of Hovnanian Enterprises as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in shares of Hovnanian Enterprises by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company's stock worth $19,008,000 after buying an additional 18,622 shares in the last quarter. Forager Capital Management LLC raised its stake in Hovnanian Enterprises by 3.5% in the third quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company's stock worth $23,911,000 after buying an additional 4,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Hovnanian Enterprises by 0.3% during the third quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company's stock worth $22,882,000 after buying an additional 322 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Hovnanian Enterprises in the 3rd quarter valued at $17,449,000. Finally, Brightline Capital Management LLC lifted its stake in shares of Hovnanian Enterprises by 68.8% during the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company's stock worth $16,554,000 after purchasing an additional 33,000 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company's stock.

Hovnanian Enterprises Stock Performance

HOV stock traded down $1.04 during trading on Tuesday, reaching $125.98. The company had a trading volume of 108,689 shares, compared to its average volume of 82,797. The company has a market cap of $762.81 million, a price-to-earnings ratio of 3.92 and a beta of 2.70. Hovnanian Enterprises, Inc. has a twelve month low of $124.02 and a twelve month high of $240.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. The firm has a 50-day simple moving average of $163.44 and a 200-day simple moving average of $179.86.

Analysts Set New Price Targets

Separately, Wedbush reiterated a "neutral" rating and set a $155.00 price objective on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Insiders Place Their Bets

In related news, CEO Ara K. Hovnanian sold 644 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $194.99, for a total value of $125,573.56. Following the sale, the chief executive officer now owns 45,635 shares in the company, valued at $8,898,368.65. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the sale, the director now directly owns 13,290 shares in the company, valued at $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. Corporate insiders own 17.67% of the company's stock.

Hovnanian Enterprises Company Profile

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.