Denali Advisors LLC Raises Holdings in Hovnanian Enterprises Inc (NYSE:HOV)

Denali Advisors LLC increased its holdings in shares of Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 46.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,814 shares of the construction company's stock after acquiring an additional 5,008 shares during the quarter. Denali Advisors LLC owned approximately 0.27% of Hovnanian Enterprises worth $1,656,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC grew its position in shares of Hovnanian Enterprises by 46.5% in the first quarter. Farther Finance Advisors LLC now owns 2,913 shares of the construction company's stock valued at $305,000 after purchasing an additional 925 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Hovnanian Enterprises by 64.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,905 shares of the construction company's stock valued at $1,325,000 after purchasing an additional 3,891 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Hovnanian Enterprises by 10.1% in the first quarter. Exchange Traded Concepts LLC now owns 2,350 shares of the construction company's stock valued at $246,000 after purchasing an additional 215 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Hovnanian Enterprises by 147.7% in the fourth quarter. BNP Paribas Financial Markets now owns 2,598 shares of the construction company's stock valued at $348,000 after purchasing an additional 1,549 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of Hovnanian Enterprises by 60.9% in the fourth quarter. Cerity Partners LLC now owns 4,223 shares of the construction company's stock valued at $572,000 after purchasing an additional 1,599 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors.

Hovnanian Enterprises Price Performance

HOV stock traded up $14.66 during mid-day trading on Tuesday, hitting $122.27. 118,681 shares of the stock were exchanged, compared to its average volume of 97,661. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.28. The business has a fifty day moving average price of $102.60 and a 200 day moving average price of $109.36. Hovnanian Enterprises Inc has a 12 month low of $81.15 and a 12 month high of $240.34. The stock has a market capitalization of $723.84 million, a price-to-earnings ratio of 4.26 and a beta of 2.13.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last released its earnings results on Tuesday, May 20th. The construction company reported $2.43 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $733.20 million. Hovnanian Enterprises's revenue was down 3.1% on a year-over-year basis.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Hovnanian Enterprises

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 5,500 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was 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 approximately $571,806.56. This represents a 50.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 19.77% of the company's stock.

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.