Los Angeles Capital Management LLC Cuts Stake in Hovnanian Enterprises, Inc. (NYSE:HOV)

Los Angeles Capital Management LLC trimmed its holdings in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 46.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,470 shares of the construction company's stock after selling 7,410 shares during the period. Los Angeles Capital Management LLC owned about 0.14% of Hovnanian Enterprises worth $1,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HOV. Quantedge Capital Pte Ltd acquired a new stake in shares of Hovnanian Enterprises during the 3rd quarter worth approximately $2,521,000. Invesco Ltd. grew its holdings in shares of Hovnanian Enterprises by 26.9% in the 3rd quarter. Invesco Ltd. now owns 79,625 shares of the construction company's stock worth $8,095,000 after acquiring an additional 16,866 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Hovnanian Enterprises by 25.5% during the third quarter. American Century Companies Inc. now owns 81,645 shares of the construction company's stock valued at $8,300,000 after purchasing an additional 16,575 shares during the last quarter. SG Americas Securities LLC lifted its stake in Hovnanian Enterprises by 588.9% during the fourth quarter. SG Americas Securities LLC now owns 14,873 shares of the construction company's stock valued at $2,315,000 after buying an additional 12,714 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Hovnanian Enterprises by 4.4% in the third quarter. Vanguard Group Inc. now owns 260,791 shares of the construction company's stock worth $26,512,000 after acquiring an additional 10,967 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Hovnanian Enterprises Stock Performance

NYSE HOV traded up $9.90 on Thursday, hitting $167.60. 92,111 shares of the stock traded hands, compared to its average volume of 78,568. 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 business's fifty day moving average is $147.81 and its two-hundred day moving average is $136.64. Hovnanian Enterprises, Inc. has a 12 month low of $65.22 and a 12 month high of $183.60. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 6.03 and a beta of 2.62.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on HOV shares. TheStreet raised Hovnanian Enterprises from a "c+" rating to a "b-" rating in a research report on Friday, February 16th. Zelman & Associates reaffirmed an "underperform" rating on shares of Hovnanian Enterprises in a research note on Friday, April 12th. Finally, StockNews.com downgraded Hovnanian Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, March 3rd.

Insider Buying and Selling

In other news, CEO Ara K. Hovnanian sold 1,000 shares of the business's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $157.82, for a total value of $157,820.00. Following the completion of the sale, the chief executive officer now owns 51,475 shares of the company's stock, valued at approximately $8,123,784.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 17.67% of the stock is owned by company insiders.

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.