Bridgeway Capital Management LLC Reduces Stock Position in Hovnanian Enterprises Inc $HOV

Key Points

• Bridgeway Capital Management LLC reduced its stake in Hovnanian Enterprises by 4.9%, owning 81,783 shares valued at approximately $8.56 million after selling 4,173 shares in the first quarter.
• Hovnanian Enterprises reported a loss in earnings per share (EPS) of $1.99 for the latest quarter, falling short of analysts' expectation of $3.51.
• Analysts have issued a mixed view on Hovnanian's stock, with Wall Street Zen downgrading it from "hold" to "sell" and setting a price target of $120.

Bridgeway Capital Management LLC reduced its holdings in shares of Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 4.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,783 shares of the construction company's stock after selling 4,173 shares during the period. Bridgeway Capital Management LLC owned about 1.38% of Hovnanian Enterprises worth $8,563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HOV. Forager Capital Management LLC grew its position in Hovnanian Enterprises by 61.6% during the fourth quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock valued at $25,301,000 after acquiring an additional 72,068 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in 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 acquiring an additional 21,148 shares during the last quarter. GAMMA Investing LLC grew its position in Hovnanian Enterprises by 12,432.3% during the first quarter. GAMMA Investing LLC now owns 15,916 shares of the construction company's stock valued at $16,670,000 after acquiring an additional 15,789 shares during the last quarter. Nuveen LLC bought a new position in Hovnanian Enterprises during the first quarter valued at approximately $1,605,000. Finally, Panagora Asset Management Inc. bought a new position in Hovnanian Enterprises during the first quarter valued at approximately $1,373,000. 65.40% of the stock is currently owned by institutional investors.

Insider Activity

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 609 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were 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 in the company, 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 company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $107.12, for a total transaction of $589,160.00. Following the transaction, the director owned 5,338 shares in the company, valued at $571,806.56. This represents 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 Down 0.5%

Shares of Hovnanian Enterprises stock traded down $0.83 during midday trading on Monday, hitting $153.34. The company had a trading volume of 73,385 shares, compared to its average volume of 111,646. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.36 and a current ratio of 1.62. The stock has a market capitalization of $903.17 million, a P/E ratio of 7.38 and a beta of 2.12. The company has a 50 day moving average of $129.35 and a 200 day moving average of $110.35. Hovnanian Enterprises Inc has a 52-week low of $81.15 and a 52-week high of $233.15.

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

Wall Street Analyst Weigh In

HOV has been the topic of several analyst reports. Wall Street Zen raised shares of Hovnanian Enterprises from a "sell" rating to a "hold" rating in a research note on Sunday. Wedbush reissued a "neutral" rating and set a $120.00 target price on shares of Hovnanian Enterprises in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.