Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 64.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,905 shares of the construction company's stock after acquiring an additional 3,891 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of Hovnanian Enterprises worth $1,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Hovnanian Enterprises during the 4th quarter valued at $25,000. KLP Kapitalforvaltning AS acquired a new position in shares of Hovnanian Enterprises in the fourth quarter worth about $120,000. Brevan Howard Capital Management LP purchased a new stake in Hovnanian Enterprises during the 4th quarter worth approximately $204,000. Citadel Advisors LLC purchased a new position in shares of Hovnanian Enterprises during the 4th quarter valued at approximately $269,000. Finally, Trexquant Investment LP acquired a new stake in shares of Hovnanian Enterprises during the fourth quarter worth approximately $286,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Hovnanian Enterprises Stock Performance

Shares of NYSE HOV traded up $1.66 during midday trading on Thursday, hitting $99.38. The company's stock had a trading volume of 112,780 shares, compared to its average volume of 81,628. The firm has a market cap of $588.83 million, a P/E ratio of 3.09 and a beta of 2.15. The firm's fifty day moving average price is $96.89 and its 200-day moving average price is $119.81. Hovnanian Enterprises, Inc. has a 1-year low of $81.15 and a 1-year high of $240.34. 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 (NYSE:HOV - Get Free Report) last posted its earnings results 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). Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%. The company had revenue of $686.47 million during the quarter, compared to the consensus estimate of $733.20 million. The company's revenue for the quarter was down 3.1% compared to the same quarter last year.

Analysts Set New Price Targets

A number of research firms have commented on HOV. Wedbush reiterated a "neutral" rating and set a $120.00 price objective on shares of Hovnanian Enterprises in a research note on Wednesday. Zelman & Associates restated an "underperform" rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th. Finally, Wall Street Zen lowered Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

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.