Assenagon Asset Management S.A. Reduces Holdings in Hovnanian Enterprises Inc $HOV

Key Points

• Assenagon Asset Management S.A. reduced its holdings in Hovnanian Enterprises by 57.4% in the second quarter, owning 17,229 shares worth approximately $1.8 million.
• Hovnanian Enterprises reported $1.99 earnings per share for the last quarter, missing analysts' estimates of $3.51, and generated revenue of $800.58 million.
• Several large investors have adjusted their stakes in Hovnanian, with a total of 65.40% of the stock owned by hedge funds and other institutional investors.

Assenagon Asset Management S.A. trimmed its position in shares of Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 57.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,229 shares of the construction company's stock after selling 23,194 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.29% of Hovnanian Enterprises worth $1,801,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in HOV. Citadel Advisors LLC purchased a new stake in shares of Hovnanian Enterprises during the fourth quarter worth approximately $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 purchasing an additional 117 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Hovnanian Enterprises during the fourth quarter worth approximately $523,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Hovnanian Enterprises by 64.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,905 shares of the construction company's stock worth $1,325,000 after purchasing an additional 3,891 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Hovnanian Enterprises by 4.0% during the fourth quarter. California State Teachers Retirement System now owns 4,724 shares of the construction company's stock worth $632,000 after purchasing an additional 182 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ara K. Hovnanian sold 609 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $138.31, for a total transaction of $84,230.79. Following the transaction, the chief executive officer owned 62,896 shares of the company's stock, valued at approximately $8,699,145.76. This represents a 0.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward A. Kangas sold 5,500 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $107.12, for a total value of $589,160.00. Following the transaction, the director directly owned 5,338 shares in the company, valued at approximately $571,806.56. The trade was a 50.75% decrease in their position. The disclosure for this sale can be found here. 19.77% of the stock is currently owned by corporate insiders.

Hovnanian Enterprises Stock Performance

NYSE HOV opened at $130.54 on Friday. The stock has a market cap of $769.14 million, a PE ratio of 6.28 and a beta of 2.12. The company has a current ratio of 1.62, a quick ratio of 0.36 and a debt-to-equity ratio of 0.08. Hovnanian Enterprises Inc has a twelve month low of $81.15 and a twelve month high of $212.77. The stock has a fifty day simple moving average of $138.70 and a 200-day simple moving average of $114.30.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last released its quarterly earnings results on Thursday, August 21st. The construction company reported $1.99 earnings per share for the quarter, missing analysts' consensus estimates of $3.51 by ($1.52). The business had revenue of $800.58 million for the quarter, compared to analysts' expectations of $806.20 million. Hovnanian Enterprises had a return on equity of 23.31% and a net margin of 5.06%.The business's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.75 earnings per share. Hovnanian Enterprises has set its Q4 2025 guidance at EPS.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen upgraded Hovnanian Enterprises from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Wedbush restated a "neutral" rating and issued a $120.00 target price on shares of Hovnanian Enterprises in a report on Wednesday, August 27th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $120.00.

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.

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