Caxton Associates LLP Buys New Stake in Hovnanian Enterprises Inc $HOV

Key Points

• Caxton Associates LLP has purchased a new stake in Hovnanian Enterprises Inc, acquiring 5,708 shares valued at approximately $598,000, representing about 0.10% ownership of the company.
• Several institutional investors have also increased their stakes in Hovnanian, with GAMMA Investing LLC lifting their stake by 12,432.3% during the same period.
• Hovnanian reported $1.99 earnings per share for the last quarter, significantly missing analysts' estimates, alongside a revenue of $800.58 million, which was slightly below expectations.

Caxton Associates LLP purchased a new stake in Hovnanian Enterprises Inc (NYSE:HOV - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,708 shares of the construction company's stock, valued at approximately $598,000. Caxton Associates LLP owned about 0.10% of Hovnanian Enterprises at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV acquired a new stake in Hovnanian Enterprises during the first quarter worth approximately $80,000. Harbor Capital Advisors Inc. raised its position in shares of Hovnanian Enterprises by 1,655.2% during the first quarter. Harbor Capital Advisors Inc. now owns 1,018 shares of the construction company's stock worth $107,000 after acquiring an additional 960 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Hovnanian Enterprises in the first quarter valued at $109,000. Russell Investments Group Ltd. increased its holdings in Hovnanian Enterprises by 2,009.9% in the first quarter. Russell Investments Group Ltd. now owns 1,920 shares of the construction company's stock worth $201,000 after purchasing an additional 1,829 shares in the last quarter. Finally, PDT Partners LLC bought a new position in shares of Hovnanian Enterprises during the 1st quarter worth about $208,000. 65.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Ara K. Hovnanian sold 609 shares of Hovnanian Enterprises stock in a transaction that occurred on 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 in the company, valued at approximately $8,699,145.76. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward A. Kangas sold 5,500 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $107.12, for a total transaction of $589,160.00. Following the completion of the sale, the director directly owned 5,338 shares of the company's stock, valued at approximately $571,806.56. This trade represents a 50.75% decrease in their position. The disclosure for this sale can be found here. Insiders own 19.77% of the company's stock.

Hovnanian Enterprises Stock Performance

Shares of HOV stock traded up $3.17 on Wednesday, hitting $153.58. The company had a trading volume of 29,303 shares, compared to its average volume of 110,542. Hovnanian Enterprises Inc has a twelve month low of $81.15 and a twelve month high of $233.15. The company has a quick ratio of 0.36, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. The firm has a market cap of $904.56 million, a P/E ratio of 7.39 and a beta of 2.12. The company has a 50-day moving average price of $134.74 and a 200-day moving average price of $112.46.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on HOV shares. Wall Street Zen raised 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 price objective on shares of Hovnanian Enterprises in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $120.00.

Hovnanian Enterprises 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.