Denali Advisors LLC Buys 5,008 Shares of Hovnanian Enterprises Inc (NYSE:HOV)

Denali Advisors LLC boosted its holdings in Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 46.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,814 shares of the construction company's stock after buying an additional 5,008 shares during the period. Denali Advisors LLC owned approximately 0.27% of Hovnanian Enterprises worth $1,656,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Victory Capital Management Inc. increased its position in shares of Hovnanian Enterprises by 23.0% during the fourth quarter. Victory Capital Management Inc. now owns 4,199 shares of the construction company's stock worth $562,000 after acquiring an additional 785 shares in the last quarter. Swiss National Bank increased its position in shares of Hovnanian Enterprises by 5.3% during the fourth quarter. Swiss National Bank now owns 9,900 shares of the construction company's stock worth $1,325,000 after acquiring an additional 500 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Hovnanian Enterprises by 30.5% during the fourth quarter. Intech Investment Management LLC now owns 2,204 shares of the construction company's stock worth $295,000 after acquiring an additional 515 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Hovnanian Enterprises during the fourth quarter worth $25,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Hovnanian Enterprises during the fourth quarter worth $120,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Hovnanian Enterprises Price Performance

Shares of NYSE:HOV traded up $1.62 during midday trading on Wednesday, hitting $123.47. The stock had a trading volume of 34,498 shares, compared to its average volume of 97,692. The company's 50-day moving average price is $102.79 and its 200-day moving average price is $109.30. The company has a market capitalization of $730.94 million, a P/E ratio of 4.35 and a beta of 2.13. The company has a quick ratio of 0.28, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. Hovnanian Enterprises Inc has a fifty-two week low of $81.15 and a fifty-two week high of $240.34.

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

Insider Activity at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 5,500 shares of the business's stock in a transaction 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 transaction, the director owned 5,338 shares in the company, valued at $571,806.56. The trade was a 50.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 19.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on HOV shares. Wall Street Zen downgraded shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wedbush restated a "neutral" rating and set a $120.00 target price on shares of Hovnanian Enterprises in a research note on Wednesday, June 11th.

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.