Hovnanian Enterprises, Inc. (NYSE:HOV) Short Interest Up 6.8% in March

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 234,400 shares, an increase of 6.8% from the February 29th total of 219,500 shares. Based on an average trading volume of 83,400 shares, the short-interest ratio is currently 2.8 days. Approximately 5.0% of the company's stock are short sold.

Analyst Upgrades and Downgrades

HOV has been the subject of a number of recent analyst reports. StockNews.com lowered Hovnanian Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, March 3rd. TheStreet upgraded Hovnanian Enterprises from a "c+" rating to a "b-" rating in a research report on Friday, February 16th.

Insiders Place Their Bets

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 1,000 shares of Hovnanian Enterprises stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $157.82, for a total transaction of $157,820.00. Following the completion of the transaction, the chief executive officer now owns 51,475 shares in the company, valued at approximately $8,123,784.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 17.67% of the company's stock.

Hedge Funds Weigh In On Hovnanian Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of HOV. Dimensional Fund Advisors LP lifted its holdings in Hovnanian Enterprises by 85.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 142,642 shares of the construction company's stock worth $9,676,000 after purchasing an additional 65,519 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Hovnanian Enterprises by 15.3% during the second quarter. Renaissance Technologies LLC now owns 261,715 shares of the construction company's stock valued at $11,199,000 after buying an additional 34,810 shares during the last quarter. Norges Bank bought a new stake in shares of Hovnanian Enterprises during the 4th quarter worth approximately $1,435,000. BlackRock Inc. boosted its holdings in Hovnanian Enterprises by 9.9% during the 2nd quarter. BlackRock Inc. now owns 331,716 shares of the construction company's stock valued at $32,910,000 after acquiring an additional 29,938 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Hovnanian Enterprises in the fourth quarter worth $1,086,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Hovnanian Enterprises Trading Down 3.0 %

HOV stock traded down $4.59 on Tuesday, reaching $150.40. The company's stock had a trading volume of 86,071 shares, compared to its average volume of 85,430. Hovnanian Enterprises has a 12-month low of $61.10 and a 12-month high of $183.60. The business has a fifty day simple moving average of $154.53 and a two-hundred day simple moving average of $126.27. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.86 and a current ratio of 4.07. The firm has a market cap of $917.44 million, a PE ratio of 5.20 and a beta of 2.61.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.75 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a return on equity of 58.22% and a net margin of 7.45%. The business had revenue of $594.20 million during the quarter.

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.