Globeflex Capital L P Acquires New Holdings in Hovnanian Enterprises Inc $HOV

Key Points

• Globeflex Capital acquired 17,534 Hovnanian Enterprises shares worth approximately $2.5 million, giving it a 0.30% stake. Institutional investors collectively own 65.40% of the company.
• Hovnanian’s latest quarterly results fell short of expectations, with an EPS loss of $0.70 versus the projected $0.56 loss and revenue of $705.75 million versus $723.50 million expected.
• Analysts remain cautious: HOV has a consensus rating of “Reduce” and a $97 price target, while the stock recently traded at $131.28. Company insiders own 22.67% of shares, despite recent sales by the CEO and a director.

Globeflex Capital L P bought a new position in shares of Hovnanian Enterprises Inc (NYSE:HOV - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 17,534 shares of the construction company's stock, valued at approximately $2,497,000. Globeflex Capital L P owned 0.30% of Hovnanian Enterprises at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Hovnanian Enterprises by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,979 shares of the construction company's stock valued at $312,000 after acquiring an additional 156 shares during the last quarter. Jane Street Group LLC increased its holdings in Hovnanian Enterprises by 436.3% in the first quarter. Jane Street Group LLC now owns 9,106 shares of the construction company's stock valued at $953,000 after purchasing an additional 7,408 shares during the period. Cetera Investment Advisers acquired a new stake in Hovnanian Enterprises in the second quarter valued at $506,000. Legal & General Group Plc raised its position in Hovnanian Enterprises by 6.9% during the 2nd quarter. Legal & General Group Plc now owns 5,239 shares of the construction company's stock worth $548,000 after purchasing an additional 337 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Hovnanian Enterprises by 26.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,422 shares of the construction company's stock worth $253,000 after buying an additional 502 shares during the period. 65.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director J Larry Sorsby sold 1,032 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $142.57, for a total transaction of $147,132.24. Following the completion of the sale, the director owned 187,416 shares of the company's stock, valued at $26,719,899.12. This trade represents a 0.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ara K. Hovnanian sold 12,880 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $125.78, for a total transaction of $1,620,046.40. The disclosure for this sale is available in the SEC filing. Insiders own 22.67% of the company's stock.

Hovnanian Enterprises Stock Performance

Shares of Hovnanian Enterprises stock opened at $131.28 on Monday. The business has a 50-day moving average price of $131.55 and a two-hundred day moving average price of $119.96. Hovnanian Enterprises Inc has a 1-year low of $91.52 and a 1-year high of $162.05. The company has a current ratio of 1.50, a quick ratio of 0.40 and a debt-to-equity ratio of 0.05. The company has a market cap of $769.30 million, a P/E ratio of 138.19 and a beta of 1.83.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The construction company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.14). Hovnanian Enterprises had a net margin of 0.64% and a return on equity of 8.60%. The business had revenue of $705.75 million during the quarter, compared to analyst estimates of $723.50 million. During the same period in the prior year, the firm earned $1.99 earnings per share.

Analyst Upgrades and Downgrades

A number of research firms have commented on HOV. Weiss Ratings upgraded Hovnanian Enterprises from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 16th. Citigroup reaffirmed a "market underperform" rating on shares of Hovnanian Enterprises in a research note on Friday. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Hovnanian Enterprises presently has a consensus rating of "Reduce" and a consensus price target of $97.00.

Trending Headlines about Hovnanian Enterprises

Here are the key news stories impacting Hovnanian Enterprises this week:

• Positive Sentiment: Management forecast fourth-quarter revenue of $800 million to $900 million, above the roughly $784 million analyst consensus, and targeted a gross margin of 15% to 16.5%. Hovnanian forecasts fourth-quarter revenue and gross margin
• Positive Sentiment: Hovnanian said it met or exceeded nearly all previously provided guidance metrics, while gross margins improved sequentially for the second consecutive quarter. Hovnanian fiscal 2026 third-quarter results
• Positive Sentiment: The dollar value of consolidated domestic backlog rose 5% year over year, supporting expectations for future deliveries and revenue. Hovnanian reports fiscal third-quarter results

Hovnanian Enterprises Profile

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.

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