Parametric Portfolio Associates LLC lowered its stake in Hovnanian Enterprises Inc (NYSE:HOV) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,595 shares of the construction company’s stock after selling 442 shares during the period. Parametric Portfolio Associates LLC’s holdings in Hovnanian Enterprises were worth $101,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of HOV. State Street Corp raised its stake in Hovnanian Enterprises by 4.2% in the fourth quarter. State Street Corp now owns 2,031,159 shares of the construction company’s stock valued at $5,546,000 after buying an additional 81,265 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Hovnanian Enterprises during the fourth quarter valued at about $1,553,000. Metropolitan Life Insurance Co. NY raised its stake in Hovnanian Enterprises by 5.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 79,855 shares of the construction company’s stock valued at $218,000 after buying an additional 3,830 shares in the last quarter. AQR Capital Management LLC raised its stake in Hovnanian Enterprises by 30.9% in the fourth quarter. AQR Capital Management LLC now owns 206,254 shares of the construction company’s stock valued at $563,000 after buying an additional 48,654 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in Hovnanian Enterprises by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 203,251 shares of the construction company’s stock valued at $555,000 after buying an additional 9,921 shares in the last quarter. Institutional investors and hedge funds own 29.72% of the company’s stock.
Hovnanian Enterprises Inc (NYSE HOV) opened at 2.23 on Thursday. The company has a 50-day moving average of $2.50 and a 200 day moving average of $2.37. Hovnanian Enterprises Inc has a 52 week low of $1.52 and a 52 week high of $2.98. The company has a market cap of $328.63 million, a P/E ratio of 22.30 and a beta of 1.69.
Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Friday, June 2nd. The construction company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.01. The firm had revenue of $585.90 million for the quarter, compared to analysts’ expectations of $558.55 million. Hovnanian Enterprises had a net margin of 0.56% and a negative return on equity of 8.20%. Hovnanian Enterprises’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. On average, equities analysts forecast that Hovnanian Enterprises Inc will post $0.05 EPS for the current fiscal year.
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HOV has been the topic of several analyst reports. JMP Securities reiterated an “underperform” rating and set a $1.30 price target (down previously from $1.60) on shares of Hovnanian Enterprises in a research report on Friday, April 14th. BidaskClub lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th.
Hovnanian Enterprises Company Profile
Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.
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