Assenagon Asset Management S.A. Grows Stake in Hovnanian Enterprises Inc (NYSE:HOV)

Assenagon Asset Management S.A. grew its holdings in Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 26.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,423 shares of the construction company's stock after purchasing an additional 8,388 shares during the period. Assenagon Asset Management S.A. owned about 0.68% of Hovnanian Enterprises worth $4,233,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Forager Capital Management LLC increased its holdings in Hovnanian Enterprises by 61.6% in the 4th quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock worth $25,301,000 after buying an additional 72,068 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Hovnanian Enterprises by 3,566.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 21,741 shares of the construction company's stock valued at $2,909,000 after purchasing an additional 21,148 shares during the last quarter. First Trust Advisors LP bought a new position in Hovnanian Enterprises during the fourth quarter valued at approximately $2,772,000. GAMMA Investing LLC boosted its stake in shares of Hovnanian Enterprises by 12,432.3% in the 1st quarter. GAMMA Investing LLC now owns 15,916 shares of the construction company's stock worth $16,670,000 after buying an additional 15,789 shares during the last quarter. Finally, Foundry Partners LLC grew its holdings in shares of Hovnanian Enterprises by 24.3% in the fourth quarter. Foundry Partners LLC now owns 65,623 shares of the construction company's stock worth $8,782,000 after acquiring an additional 12,814 shares during the period. Hedge funds and other institutional investors own 65.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wedbush reissued a "neutral" rating and issued a $120.00 target price on shares of Hovnanian Enterprises in a report on Wednesday, June 11th. Wall Street Zen cut shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Hovnanian Enterprises Stock Performance

NYSE:HOV traded down $2.61 during mid-day trading on Thursday, hitting $91.65. 321,235 shares of the company traded hands, compared to its average volume of 84,236. The company has a quick ratio of 0.28, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. The stock's fifty day moving average price is $97.13 and its 200-day moving average price is $116.43. The firm has a market cap of $542.59 million, a price-to-earnings ratio of 3.21 and a beta of 2.14. 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 announced its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.45 by ($0.02). Hovnanian Enterprises had a net margin of 7.03% and a return on equity of 33.18%. The company had revenue of $686.47 million for the quarter, compared to the consensus estimate of $733.20 million. The company's revenue was down 3.1% on a year-over-year basis.

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.