3,205 Shares in Hovnanian Enterprises, Inc. (NYSE:HOV) Bought by Rafferty Asset Management LLC

Rafferty Asset Management LLC bought a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 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 institutional investors and hedge funds have also modified their holdings of the business. Millennium Management LLC bought a new stake in shares of Hovnanian Enterprises during the fourth quarter worth approximately $523,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hovnanian Enterprises by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company's stock valued at $378,000 after purchasing an additional 117 shares in the last quarter. Forager Capital Management LLC increased its stake in Hovnanian Enterprises by 61.6% in the fourth 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. Deutsche Bank AG increased its stake in Hovnanian Enterprises by 45.8% in the fourth quarter. Deutsche Bank AG now owns 4,580 shares of the construction company's stock valued at $613,000 after purchasing an additional 1,438 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake 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 purchasing an additional 9,407 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Hovnanian Enterprises Stock Up 6.2%

Shares of HOV stock traded up $5.67 during trading hours on Tuesday, hitting $96.58. 44,296 shares of the company were exchanged, compared to its average volume of 80,641. The business has a 50 day moving average of $99.53 and a two-hundred day moving average of $125.60. 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 52 week low of $81.15 and a 52 week high of $240.34. The company has a market capitalization of $572.21 million, a PE ratio of 3.01 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 (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.02). Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The company had revenue of $686.47 million for the quarter, compared to the consensus estimate of $733.20 million. Hovnanian Enterprises'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.