Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its position 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 Securities and Exchange Commission. The institutional investor owned 21,741 shares of the construction company's stock after acquiring an additional 21,148 shares during the quarter. Cubist Systematic Strategies LLC owned 0.36% of Hovnanian Enterprises worth $2,909,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HOV. First Trust Advisors LP bought a new stake in shares of Hovnanian Enterprises in the 4th quarter worth approximately $2,772,000. JPMorgan Chase & Co. lifted its holdings in shares of Hovnanian Enterprises by 98.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company's stock worth $6,023,000 after purchasing an additional 14,624 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of Hovnanian Enterprises by 24.3% in the 4th quarter. Foundry Partners LLC now owns 65,623 shares of the construction company's stock worth $8,782,000 after purchasing an additional 12,814 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Hovnanian Enterprises in the 4th quarter worth approximately $883,000. Finally, Barclays PLC lifted its holdings in shares of Hovnanian Enterprises by 352.6% in the 3rd quarter. Barclays PLC now owns 8,274 shares of the construction company's stock worth $1,691,000 after purchasing an additional 6,446 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company's stock.

Hovnanian Enterprises Stock Performance

Hovnanian Enterprises stock traded up $2.32 during mid-day trading on Friday, hitting $110.40. 14,765 shares of the company's stock traded hands, compared to its average volume of 80,162. The firm has a 50 day moving average price of $100.95 and a 200 day moving average price of $130.40. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. The company has a market cap of $654.09 million, a PE ratio of 3.43 and a beta of 2.28. Hovnanian Enterprises, Inc. has a one year low of $81.15 and a one year high of $240.34.

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. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The company had revenue of $673.62 million for the quarter, compared to the consensus estimate of $705.80 million.

Analysts Set New Price Targets

Several analysts have weighed in on HOV shares. Zelman & Associates reaffirmed an "underperform" rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th. StockNews.com downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Tuesday, March 18th.

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.