Hovnanian Enterprises Inc (NYSE:HOV) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 26.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,423 shares of the construction company's stock after acquiring an additional 8,388 shares during the quarter. Assenagon Asset Management S.A. owned about 0.68% of Hovnanian Enterprises worth $4,233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 worth $1,186,000 after purchasing an additional 81 shares in the last quarter. Rhumbline Advisers grew its stake in 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 buying an additional 85 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Hovnanian Enterprises by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company's stock worth $378,000 after buying an additional 117 shares during the period. Principal Financial Group Inc. increased its position in Hovnanian Enterprises by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company's stock worth $319,000 after buying an additional 161 shares during the period. Finally, California State Teachers Retirement System lifted its stake in Hovnanian Enterprises by 4.0% in the fourth quarter. California State Teachers Retirement System now owns 4,724 shares of the construction company's stock valued at $632,000 after buying an additional 182 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Hovnanian Enterprises Price Performance

Shares of Hovnanian Enterprises stock traded down $3.64 during trading on Tuesday, reaching $94.04. The company's stock had a trading volume of 273,564 shares, compared to its average volume of 83,349. The business has a 50 day moving average price of $97.26 and a 200-day moving average price of $116.76. Hovnanian Enterprises Inc has a 12-month low of $81.15 and a 12-month high of $240.34. The company has a market capitalization of $556.72 million, a P/E ratio of 3.42 and a beta of 2.14. The company has a quick ratio of 0.28, a current ratio of 1.58 and a debt-to-equity ratio of 0.11.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.43 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.02). Hovnanian Enterprises had a return on equity of 33.18% and a net margin of 7.03%. The firm had revenue of $686.47 million for the quarter, compared to analysts' expectations of $733.20 million. Hovnanian Enterprises's revenue for the quarter was down 3.1% on a year-over-year basis.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HOV shares. Wedbush reaffirmed 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 downgraded shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

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.