Koss Olinger Consulting LLC Purchases New Position in Hovnanian Enterprises Inc (NYSE:HOV)

Key Points

• Koss Olinger Consulting LLC has bought a new position in Hovnanian Enterprises, acquiring 4,722 shares valued at approximately $494,000, marking their ownership at about 0.08% of the company.
• Other institutional investors, including Farther Finance Advisors LLC and UBS AM, have significantly increased their stakes in Hovnanian Enterprises during the last quarters, indicating growing institutional interest.
• Hovnanian Enterprises recently reported earnings that missed estimates, with revenues declining 3.1% year-over-year, highlighting challenges in the construction sector.

Koss Olinger Consulting LLC purchased a new stake in Hovnanian Enterprises Inc (NYSE:HOV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,722 shares of the construction company's stock, valued at approximately $494,000. Koss Olinger Consulting LLC owned approximately 0.08% of Hovnanian Enterprises as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in shares of Hovnanian Enterprises by 46.5% in the 1st 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 increased its stake in shares of Hovnanian Enterprises by 64.7% in the 4th 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 increased its stake in shares of Hovnanian Enterprises by 10.1% in the 1st 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. New York State Common Retirement Fund increased its stake 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 valued at $612,000 after purchasing an additional 900 shares in the last quarter. Finally, Kazazian Asset Management LLC purchased a new position in shares of Hovnanian Enterprises in the 1st quarter valued at about $377,000. Hedge funds and other institutional investors own 65.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wedbush restated a "neutral" rating and issued a $120.00 price target on shares of Hovnanian Enterprises in a research note on Wednesday, June 11th. Wall Street Zen cut Hovnanian Enterprises from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Insider Transactions at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 5,500 shares of Hovnanian Enterprises stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $107.12, for a total value of $589,160.00. Following the sale, the director directly owned 5,338 shares in the company, valued at approximately $571,806.56. The trade was a 50.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 19.77% of the company's stock.

Hovnanian Enterprises Trading Up 0.5%

HOV stock opened at $132.82 on Friday. 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 Inc has a 12-month low of $81.15 and a 12-month high of $240.34. The stock has a market cap of $786.29 million, a price-to-earnings ratio of 4.65 and a beta of 2.19. The business's 50-day moving average is $110.34 and its 200 day moving average is $108.81.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its quarterly earnings data 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 return on equity of 33.18% and a net margin of 7.03%. The firm had revenue of $686.47 million during the quarter, compared to analyst estimates of $733.20 million. The company's revenue for the quarter was down 3.1% on a year-over-year basis.

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.

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