GW&K Investment Management LLC Has $12.33 Million Holdings in Hovnanian Enterprises Inc (NYSE:HOV)

GW&K Investment Management LLC grew its holdings in shares of Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 2.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 117,739 shares of the construction company's stock after acquiring an additional 3,270 shares during the period. GW&K Investment Management LLC owned about 1.99% of Hovnanian Enterprises worth $12,328,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allianz Asset Management GmbH bought a new position in shares of Hovnanian Enterprises during the first quarter worth about $384,000. Denali Advisors LLC increased its position in Hovnanian Enterprises by 46.3% during the 1st quarter. Denali Advisors LLC now owns 15,814 shares of the construction company's stock valued at $1,656,000 after purchasing an additional 5,008 shares during the period. Foundry Partners LLC raised its holdings in Hovnanian Enterprises by 1.4% during the 1st quarter. Foundry Partners LLC now owns 66,520 shares of the construction company's stock worth $6,965,000 after purchasing an additional 897 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Hovnanian Enterprises by 18.2% in the 1st quarter. New York State Common Retirement Fund now owns 5,841 shares of the construction company's stock worth $612,000 after purchasing an additional 900 shares during the period. Finally, Creative Financial Designs Inc. ADV acquired a new position in shares of Hovnanian Enterprises in the 1st quarter worth approximately $80,000. Institutional investors and hedge funds own 65.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HOV. Wedbush reiterated a "neutral" rating and set a $120.00 price objective on shares of Hovnanian Enterprises in a research report on Wednesday, June 11th. Wall Street Zen cut shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

Hovnanian Enterprises Trading Up 0.8%

NYSE HOV traded up $0.93 during trading hours on Friday, hitting $119.87. 57,950 shares of the company's stock were exchanged, compared to its average volume of 207,537. The stock has a 50-day simple moving average of $103.58 and a 200 day simple moving average of $109.21. Hovnanian Enterprises Inc has a 1-year low of $81.15 and a 1-year high of $240.34. The firm has a market cap of $709.65 million, a price-to-earnings ratio of 4.20 and a beta of 2.13. The company has a current ratio of 1.58, a quick ratio of 0.28 and a debt-to-equity ratio of 0.11.

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

Insider Transactions at Hovnanian Enterprises

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 5,500 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $107.12, for a total value of $589,160.00. Following the completion of the sale, the director directly owned 5,338 shares in the company, valued at approximately $571,806.56. This trade represents a 50.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.77% of the stock is currently owned by corporate insiders.

About Hovnanian Enterprises

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.