Panagora Asset Management Inc. Makes New Investment in Hovnanian Enterprises Inc $HOV

Key Points

• Panagora Asset Management Inc. acquired a new stake of 13,116 shares in Hovnanian Enterprises, valued at approximately $1.37 million, representing about 0.22% ownership of the company.
• Hovnanian's shares recently opened at $138.93, with a 52-week range between $81.15 and $233.15, and the company's market cap is currently $822.47 million.
• In recent insider activity, Director Edward A. Kangas sold 5,500 shares, a 50.75% decrease in his position, while CEO Ara K. Hovnanian also sold a small portion of his shares.

Panagora Asset Management Inc. purchased 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. The firm purchased 13,116 shares of the construction company's stock, valued at approximately $1,373,000. Panagora Asset Management Inc. owned 0.22% of Hovnanian Enterprises at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Hovnanian Enterprises by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company's stock valued at $24,210,000 after purchasing an additional 602 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Hovnanian Enterprises by 10.0% during the fourth quarter. MetLife Investment Management LLC now owns 2,996 shares of the construction company's stock worth $401,000 after buying an additional 272 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Hovnanian Enterprises by 11.4% in the fourth quarter. Tudor Investment Corp ET AL now owns 3,716 shares of the construction company's stock valued at $497,000 after purchasing an additional 379 shares during the period. Northern Trust Corp lifted its position in shares of Hovnanian Enterprises by 8.5% during the fourth quarter. Northern Trust Corp now owns 46,502 shares of the construction company's stock worth $6,223,000 after purchasing an additional 3,657 shares in the last quarter. Finally, Algert Global LLC increased its stake in shares of Hovnanian Enterprises by 7.8% during the fourth quarter. Algert Global LLC now owns 6,025 shares of the construction company's stock worth $806,000 after buying an additional 435 shares during the period. Hedge funds and other institutional investors own 65.40% of the company's stock.

Analyst Upgrades and Downgrades

HOV has been the subject of several research reports. Wedbush reaffirmed a "neutral" rating and set a $120.00 price target on shares of Hovnanian Enterprises in a research note on Wednesday, August 27th. Wall Street Zen raised Hovnanian Enterprises from a "sell" rating to a "hold" rating in a report on Sunday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $120.00.

Insider Buying and Selling at Hovnanian Enterprises

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 5,500 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $107.12, for a total value of $589,160.00. Following the transaction, the director directly owned 5,338 shares in the company, valued at $571,806.56. This represents a 50.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ara K. Hovnanian sold 609 shares of Hovnanian Enterprises stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $138.31, for a total transaction of $84,230.79. Following the completion of the sale, the chief executive officer directly owned 62,896 shares in the company, valued at approximately $8,699,145.76. The trade was a 0.96% decrease in their position. The disclosure for this sale can be found here. Insiders own 19.77% of the company's stock.

Hovnanian Enterprises Stock Performance

Shares of Hovnanian Enterprises stock traded down $0.78 during trading hours on Monday, reaching $153.39. The company had a trading volume of 50,708 shares, compared to its average volume of 111,506. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.36. The business has a fifty day simple moving average of $129.35 and a 200 day simple moving average of $110.35. Hovnanian Enterprises Inc has a one year low of $81.15 and a one year high of $233.15. The firm has a market cap of $903.49 million, a PE ratio of 7.37 and a beta of 2.12.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The construction company reported $1.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.51 by ($1.52). The business had revenue of $800.58 million for the quarter, compared to analysts' expectations of $806.20 million. Hovnanian Enterprises had a net margin of 5.06% and a return on equity of 23.31%. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.75 EPS. Hovnanian Enterprises has set its Q4 2025 guidance at EPS.

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.