4,722 Shares in Hovnanian Enterprises Inc (NYSE:HOV) Acquired by Koss Olinger Consulting LLC

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 bought a new stake in Hovnanian Enterprises Inc (NYSE:HOV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HOV. Farther Finance Advisors LLC boosted 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 acquiring an additional 925 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 acquiring an additional 3,891 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Hovnanian Enterprises by 10.1% during 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 during the period. Kazazian Asset Management LLC acquired a new stake in Hovnanian Enterprises during the 1st quarter valued at approximately $377,000. Finally, New York State Common Retirement Fund grew its position in shares of Hovnanian Enterprises by 18.2% during the 1st quarter. New York State Common Retirement Fund now owns 5,841 shares of the construction company's stock worth $612,000 after buying an additional 900 shares during the period. 65.40% of the stock is owned by institutional investors.

Insider Buying and Selling 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 completion of the sale, the director directly owned 5,338 shares in the company, valued at approximately $571,806.56. This trade represents a 50.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HOV shares. Wedbush reaffirmed a "neutral" rating and set a $120.00 price objective on shares of Hovnanian Enterprises in a research report on Wednesday, June 11th. Wall Street Zen downgraded shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Hovnanian Enterprises Price Performance

Shares of NYSE HOV traded down $0.63 during midday trading on Thursday, hitting $154.46. 81,149 shares of the company's stock were exchanged, compared to its average volume of 111,972. Hovnanian Enterprises Inc has a 12-month low of $81.15 and a 12-month high of $240.34. 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 company has a market cap of $914.40 million, a price-to-earnings ratio of 5.37 and a beta of 2.19. The business's fifty day moving average price is $113.54 and its two-hundred day moving average price is $109.17.

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 analysts' consensus estimates of $2.45 by ($0.02). The firm had revenue of $686.47 million during the quarter, compared to the consensus estimate of $733.20 million. Hovnanian Enterprises had a return on equity of 33.18% and a net margin of 7.03%. The company's revenue for the quarter was down 3.1% compared to the same quarter last year.

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.