Profit Investment Management LLC Sells 3,113 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Profit Investment Management LLC lowered its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 30.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,996 shares of the construction company's stock after selling 3,113 shares during the period. Profit Investment Management LLC owned 0.12% of Hovnanian Enterprises worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Hovnanian Enterprises by 12,432.3% during the 1st quarter. GAMMA Investing LLC now owns 15,916 shares of the construction company's stock worth $16,670,000 after acquiring an additional 15,789 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Hovnanian Enterprises by 4.0% during the 4th quarter. California State Teachers Retirement System now owns 4,724 shares of the construction company's stock valued at $632,000 after acquiring an additional 182 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Hovnanian Enterprises by 64.7% during 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 acquiring an additional 3,891 shares in the last quarter. Woodson Capital Management LP lifted its holdings in Hovnanian Enterprises by 18.3% during the 4th quarter. Woodson Capital Management LP now owns 35,500 shares of the construction company's stock worth $4,751,000 after buying an additional 5,500 shares during the period. Finally, Rafferty Asset Management LLC acquired a new position in Hovnanian Enterprises during the 4th quarter worth about $429,000. Institutional investors and hedge funds own 65.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on HOV shares. Wedbush reaffirmed a "neutral" rating and set a $120.00 target price on shares of Hovnanian Enterprises in a report on Tuesday, May 20th. Zelman & Associates reaffirmed an "underperform" rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. Finally, Wall Street Zen downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Hovnanian Enterprises Trading Up 1.7%

Shares of NYSE:HOV traded up $1.63 during midday trading on Thursday, reaching $97.46. The company's stock had a trading volume of 32,780 shares, compared to its average volume of 79,627. The firm has a market capitalization of $577.45 million, a price-to-earnings ratio of 3.04 and a beta of 2.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The firm has a 50 day moving average price of $97.31 and a two-hundred day moving average price of $122.40. Hovnanian Enterprises, Inc. has a fifty-two week low of $81.15 and a fifty-two week high of $240.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced 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 business had revenue of $686.47 million during the quarter, compared to analyst estimates of $733.20 million. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%. Hovnanian Enterprises's revenue for the quarter was down 3.1% on a year-over-year basis.

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.