Hovnanian Enterprises, Inc. (NYSE:HOV) Stock Position Lowered by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 9.2% 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 195,515 shares of the construction company's stock after selling 19,900 shares during the period. Renaissance Technologies LLC owned about 3.23% of Hovnanian Enterprises worth $26,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HOV. Quantbot Technologies LP acquired a new stake in shares of Hovnanian Enterprises in the 4th quarter valued at about $25,000. FMR LLC increased its position in Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company's stock worth $71,000 after buying an additional 59 shares during the period. KLP Kapitalforvaltning AS bought a new position in Hovnanian Enterprises in the 4th quarter worth about $120,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Hovnanian Enterprises in the third quarter valued at approximately $205,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Hovnanian Enterprises by 51.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,135 shares of the construction company's stock valued at $286,000 after purchasing an additional 724 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Hovnanian Enterprises Price Performance

Shares of NYSE HOV traded up $4.20 during mid-day trading on Friday, reaching $95.81. 88,525 shares of the company traded hands, compared to its average volume of 81,052. Hovnanian Enterprises, Inc. has a fifty-two week low of $81.15 and a fifty-two week high of $240.34. The firm has a market cap of $567.70 million, a PE ratio of 2.98 and a beta of 2.43. The stock has a fifty day simple moving average of $107.13 and a 200-day simple moving average of $143.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.87. The company had revenue of $673.62 million for the quarter, compared to the consensus estimate of $705.80 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HOV. Zelman & Associates reissued an "underperform" rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. StockNews.com cut Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Tuesday, March 18th.

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.