Royce & Associates LP Decreases Holdings in Hovnanian Enterprises Inc (NYSE:HOV)

Royce & Associates LP decreased its stake in shares of Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 20.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,200 shares of the construction company's stock after selling 5,000 shares during the quarter. Royce & Associates LP owned about 0.32% of Hovnanian Enterprises worth $2,010,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in Hovnanian Enterprises by 46.5% during the first quarter. Farther Finance Advisors LLC now owns 2,913 shares of the construction company's stock worth $305,000 after buying an additional 925 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Hovnanian Enterprises by 64.7% during 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 worth $1,325,000 after buying an additional 3,891 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Hovnanian Enterprises by 10.1% during the first quarter. Exchange Traded Concepts LLC now owns 2,350 shares of the construction company's stock worth $246,000 after acquiring an additional 215 shares during the last quarter. New York State Common Retirement Fund increased its stake in Hovnanian Enterprises by 18.2% during the first quarter. New York State Common Retirement Fund now owns 5,841 shares of the construction company's stock worth $612,000 after acquiring an additional 900 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Hovnanian Enterprises by 147.7% during the fourth quarter. BNP Paribas Financial Markets now owns 2,598 shares of the construction company's stock worth $348,000 after acquiring an additional 1,549 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company's stock.

Insider Buying and Selling

In related news, Director Edward A. Kangas sold 5,500 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 5,338 shares of the company's stock, valued at $571,806.56. The trade was a 50.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.77% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on HOV. Wall Street Zen cut Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Wedbush reissued a "neutral" rating and set a $120.00 target price on shares of Hovnanian Enterprises in a research note on Wednesday, June 11th.

Hovnanian Enterprises Trading Up 4.0%

HOV stock traded up $4.78 during midday trading on Friday, hitting $124.25. 96,650 shares of the company's stock were exchanged, compared to its average volume of 110,843. The business has a 50-day simple moving average of $105.59 and a two-hundred day simple moving average of $109.30. The company has a current ratio of 1.58, a quick ratio of 0.28 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $735.56 million, a PE ratio of 4.35 and a beta of 2.13. Hovnanian Enterprises Inc has a 1-year low of $81.15 and a 1-year high of $240.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $686.47 million during the quarter, compared to analyst estimates of $733.20 million. The firm's revenue was down 3.1% compared to the same quarter last year.

Hovnanian Enterprises Company 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.