GAMMA Investing LLC Acquires 15,789 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

GAMMA Investing LLC increased its position in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 12,432.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,916 shares of the construction company's stock after buying an additional 15,789 shares during the period. GAMMA Investing LLC owned 0.27% of Hovnanian Enterprises worth $16,670,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Hovnanian Enterprises in the fourth quarter valued at approximately $25,000. KLP Kapitalforvaltning AS bought a new position in shares of Hovnanian Enterprises during the 4th quarter valued at $120,000. Brevan Howard Capital Management LP acquired a new stake in shares of Hovnanian Enterprises in the 4th quarter valued at $204,000. Citadel Advisors LLC acquired a new stake in shares of Hovnanian Enterprises in the 4th quarter valued at $269,000. Finally, Trexquant Investment LP bought a new stake in Hovnanian Enterprises in the fourth quarter worth $286,000. Institutional investors and hedge funds own 65.40% of the company's stock.

Hovnanian Enterprises Stock Performance

Shares of Hovnanian Enterprises stock traded down $1.84 on Friday, reaching $94.25. The stock had a trading volume of 88,466 shares, compared to its average volume of 80,053. The business's 50-day moving average price is $96.95 and its two-hundred day moving average price is $121.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. Hovnanian Enterprises, Inc. has a fifty-two week low of $81.15 and a fifty-two week high of $240.34. The stock has a market cap of $558.43 million, a P/E ratio of 2.94 and a beta of 2.14.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its earnings results on Tuesday, May 20th. The construction company reported $2.43 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.02). Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The firm had revenue of $686.47 million during the quarter, compared to the consensus estimate of $733.20 million. The company's revenue was down 3.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Zelman & Associates restated an "underperform" rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. Wedbush reissued a "neutral" rating and set a $120.00 price objective on shares of Hovnanian Enterprises in a report on Tuesday, May 20th. Finally, Wall Street Zen downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

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.