Rafferty Asset Management LLC Takes $429,000 Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Rafferty Asset Management LLC purchased a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,205 shares of the construction company's stock, valued at approximately $429,000. Rafferty Asset Management LLC owned approximately 0.05% of Hovnanian Enterprises at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in HOV. Forager Capital Management LLC boosted its holdings in shares of Hovnanian Enterprises by 61.6% in the 4th quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock valued at $25,301,000 after purchasing an additional 72,068 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Hovnanian Enterprises by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company's stock valued at $24,210,000 after buying an additional 602 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in Hovnanian Enterprises by 8.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 121,239 shares of the construction company's stock valued at $16,224,000 after acquiring an additional 9,407 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in Hovnanian Enterprises by 1.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 85,956 shares of the construction company's stock worth $11,503,000 after acquiring an additional 1,461 shares in the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of Hovnanian Enterprises by 24.3% in the fourth quarter. Foundry Partners LLC now owns 65,623 shares of the construction company's stock worth $8,782,000 after acquiring an additional 12,814 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HOV shares. Wedbush reiterated a "neutral" rating and set a $120.00 price objective on shares of Hovnanian Enterprises in a research report on Tuesday, May 20th. Wall Street Zen downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Zelman & Associates reaffirmed an "underperform" rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th.

Hovnanian Enterprises Trading Down 6.2%

HOV traded down $6.07 during trading on Wednesday, reaching $91.37. 12,524 shares of the company's stock were exchanged, compared to its average volume of 80,516. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. Hovnanian Enterprises, Inc. has a one year low of $81.15 and a one year high of $240.34. The firm has a fifty day moving average price of $99.24 and a two-hundred day moving average price of $125.41. The stock has a market capitalization of $541.37 million, a PE ratio of 2.84 and a beta of 2.28.

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 the consensus estimate of $2.45 by ($0.02). The business 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 43.47% and a net margin of 8.05%. Hovnanian Enterprises's revenue for the quarter 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.