Cubist Systematic Strategies LLC Has $2.91 Million Stake in Hovnanian Enterprises, Inc. (NYSE:HOV)

Cubist Systematic Strategies LLC grew its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 3,566.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 21,741 shares of the construction company's stock after buying an additional 21,148 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.36% of Hovnanian Enterprises worth $2,909,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Hovnanian Enterprises by 0.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company's stock valued at $1,186,000 after buying an additional 81 shares during the period. Rhumbline Advisers grew its holdings in shares of Hovnanian Enterprises by 1.0% during the 4th quarter. Rhumbline Advisers now owns 8,850 shares of the construction company's stock worth $1,184,000 after acquiring an additional 85 shares during the period. Principal Financial Group Inc. raised its position in shares of Hovnanian Enterprises by 7.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company's stock worth $319,000 after acquiring an additional 161 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Hovnanian Enterprises during the fourth quarter valued at approximately $25,000. Finally, Peapack Gladstone Financial Corp grew its stake in Hovnanian Enterprises by 1.9% in the fourth quarter. Peapack Gladstone Financial Corp now owns 10,863 shares of the construction company's stock worth $1,454,000 after purchasing an additional 201 shares during the period. 65.40% of the stock is currently owned by institutional investors.

Hovnanian Enterprises Price Performance

Shares of Hovnanian Enterprises stock traded up $0.55 during mid-day trading on Thursday, reaching $107.33. 32,363 shares of the stock traded hands, compared to its average volume of 80,610. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. Hovnanian Enterprises, Inc. has a fifty-two week low of $81.15 and a fifty-two week high of $240.34. The stock has a market capitalization of $635.93 million, a PE ratio of 3.34 and a beta of 2.28. The business has a 50-day moving average of $100.97 and a 200 day moving average of $130.87.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on HOV shares. Zelman & Associates reissued an "underperform" rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th. StockNews.com cut shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Tuesday, March 18th.

Hovnanian Enterprises 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.