5,317 Shares in Hovnanian Enterprises Inc $HOV Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC purchased a new stake in Hovnanian Enterprises Inc (NYSE:HOV) in the third quarter, HoldingsChannel.com reports. The firm purchased 5,317 shares of the construction company’s stock, valued at approximately $683,000.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Hovnanian Enterprises by 9.8% during the third quarter. GAMMA Investing LLC now owns 1,091 shares of the construction company’s stock worth $140,000 after acquiring an additional 97 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Hovnanian Enterprises by 1.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,283 shares of the construction company’s stock valued at $1,193,000 after purchasing an additional 144 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Hovnanian Enterprises by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,979 shares of the construction company’s stock valued at $312,000 after purchasing an additional 156 shares during the last quarter. Franklin Resources Inc. boosted its stake in Hovnanian Enterprises by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,547 shares of the construction company’s stock worth $1,227,000 after purchasing an additional 179 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in Hovnanian Enterprises by 72.1% in the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock worth $45,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Down 2.3%

Shares of HOV stock opened at $105.16 on Thursday. Hovnanian Enterprises Inc has a fifty-two week low of $81.15 and a fifty-two week high of $162.05. The firm has a market capitalization of $625.70 million, a PE ratio of 16.10 and a beta of 2.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.43 and a current ratio of 1.50. The stock’s 50-day simple moving average is $119.62 and its 200-day simple moving average is $121.65.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Wednesday, February 25th. The construction company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $3.60. The firm had revenue of $631.95 million during the quarter, compared to the consensus estimate of $628.50 million. Hovnanian Enterprises had a return on equity of 14.14% and a net margin of 1.92%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HOV shares. Wall Street Zen upgraded shares of Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hovnanian Enterprises in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $120.00.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.