XTX Topco Ltd Buys 2,327 Shares of Hovnanian Enterprises Inc (NYSE:HOV)

Key Points

• XTX Topco Ltd increased its stake in Hovnanian Enterprises by 60.6%, owning 6,166 shares valued at approximately $646,000.
• Shares of Hovnanian Enterprises have received mixed reviews from analysts, with Wall Street Zen downgrading the stock from "hold" to "sell" while Wedbush maintained a "neutral" stance with a price target of $120.00.
• Hovnanian reported a quarterly earnings miss, with earnings per share of $2.43 falling short of analyst estimates and a year-over-year revenue decline of 3.1%.

XTX Topco Ltd lifted its holdings in shares of Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 60.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,166 shares of the construction company's stock after purchasing an additional 2,327 shares during the period. XTX Topco Ltd owned about 0.10% of Hovnanian Enterprises worth $646,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in HOV. KLP Kapitalforvaltning AS bought a new stake in Hovnanian Enterprises during the 4th quarter valued at $120,000. Trexquant Investment LP purchased a new stake in shares of Hovnanian Enterprises during the fourth quarter worth about $286,000. Peapack Gladstone Financial Corp grew its stake in shares of Hovnanian Enterprises by 1.9% in the fourth quarter. Peapack Gladstone Financial Corp now owns 10,863 shares of the construction company's stock worth $1,454,000 after purchasing an additional 201 shares during the last quarter. Cerity Partners LLC increased its holdings in Hovnanian Enterprises by 60.9% during the 4th quarter. Cerity Partners LLC now owns 4,223 shares of the construction company's stock valued at $572,000 after purchasing an additional 1,599 shares during the period. Finally, Legal & General Group Plc increased its holdings in Hovnanian Enterprises by 5.5% during the 4th quarter. Legal & General Group Plc now owns 5,045 shares of the construction company's stock valued at $675,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 65.40% of the company's stock.

Insider Activity

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 5,500 shares of Hovnanian Enterprises stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $107.12, for a total value of $589,160.00. Following the completion of the transaction, the director directly owned 5,338 shares of the company's stock, valued at approximately $571,806.56. The trade was a 50.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.77% of the stock is currently owned by corporate insiders.

Hovnanian Enterprises Stock Up 0.5%

HOV traded up $0.64 during trading on Friday, reaching $132.82. The stock had a trading volume of 79,710 shares, compared to its average volume of 111,276. The company has a current ratio of 1.58, a quick ratio of 0.28 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $786.96 million, a price-to-earnings ratio of 4.65 and a beta of 2.19. The stock's 50 day moving average is $109.49 and its two-hundred day moving average is $109.05. Hovnanian Enterprises Inc has a one year low of $81.15 and a one year 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 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 analysts' expectations of $733.20 million. Hovnanian Enterprises had a return on equity of 33.18% and a net margin of 7.03%. The business's revenue was down 3.1% compared to the same quarter last year.

Analyst Ratings Changes

HOV has been the topic of a number of recent analyst reports. Wedbush reiterated a "neutral" rating and issued a $120.00 price objective on shares of Hovnanian Enterprises in a research report on Wednesday, June 11th. Wall Street Zen lowered Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Hovnanian Enterprises 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.