Two Sigma Investments LP Sells 4,788 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Two Sigma Investments LP lowered its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 63.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,711 shares of the construction company's stock after selling 4,788 shares during the quarter. Two Sigma Investments LP's holdings in Hovnanian Enterprises were worth $363,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Empowered Funds LLC grew its holdings in shares of Hovnanian Enterprises by 5.0% during the 4th quarter. Empowered Funds LLC now owns 30,667 shares of the construction company's stock worth $4,104,000 after purchasing an additional 1,461 shares during the period. Rhumbline Advisers grew its stake in Hovnanian Enterprises by 1.0% during the 4th quarter. Rhumbline Advisers now owns 8,850 shares of the construction company's stock worth $1,184,000 after buying an additional 85 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hovnanian Enterprises by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company's stock worth $319,000 after buying an additional 161 shares during the period. Victory Capital Management Inc. grew its position in Hovnanian Enterprises by 23.0% in the 4th quarter. Victory Capital Management Inc. now owns 4,199 shares of the construction company's stock valued at $562,000 after buying an additional 785 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Hovnanian Enterprises by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company's stock worth $1,186,000 after buying an additional 81 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Hovnanian Enterprises Price Performance

Shares of NYSE:HOV traded down $6.51 during trading hours on Friday, hitting $93.04. 95,666 shares of the company's stock traded hands, compared to its average volume of 81,959. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. Hovnanian Enterprises, Inc. has a 52 week low of $81.15 and a 52 week high of $240.34. The company has a market cap of $551.23 million, a price-to-earnings ratio of 2.90 and a beta of 2.15. The company's fifty day simple moving average is $97.07 and its two-hundred day simple moving average is $118.46.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.43 earnings per share for the quarter, missing analysts' consensus estimates of $2.45 by ($0.02). The company had revenue of $686.47 million during the quarter, compared to analyst estimates of $733.20 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The firm's revenue was down 3.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HOV shares. Wall Street Zen cut Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wedbush reaffirmed a "neutral" rating and issued a $120.00 price objective on shares of Hovnanian Enterprises in a research report on Wednesday.

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.