Parametric Portfolio Associates LLC decreased its position in Hovnanian Enterprises Inc (NYSE:HOV) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in HOV. UBS Asset Management Americas Inc. increased its stake in Hovnanian Enterprises by 83.3% in the first quarter. UBS Asset Management Americas Inc. now owns 59,193 shares of the construction company’s stock worth $134,000 after buying an additional 26,897 shares during the period. Nationwide Fund Advisors increased its stake in Hovnanian Enterprises by 2.4% in the first quarter. Nationwide Fund Advisors now owns 75,273 shares of the construction company’s stock worth $171,000 after buying an additional 1,730 shares during the period. Metropolitan Life Insurance Co. NY increased 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 worth $218,000 after buying an additional 3,830 shares during the period. Engineers Gate Manager LP increased its stake in Hovnanian Enterprises by 314.7% in the first quarter. Engineers Gate Manager LP now owns 111,405 shares of the construction company’s stock worth $253,000 after buying an additional 84,541 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Hovnanian Enterprises by 9.9% in the first quarter. Wells Fargo & Company MN now owns 126,538 shares of the construction company’s stock worth $288,000 after buying an additional 11,400 shares during the period. 29.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hovnanian Enterprises Inc (NYSE:HOV) opened at 2.23 on Thursday. The firm has a market capitalization of $328.63 million, a P/E ratio of 22.30 and a beta of 1.69. Hovnanian Enterprises Inc has a 12-month low of $1.52 and a 12-month high of $2.98. The firm’s 50-day moving average price is $2.50 and its 200-day moving average price is $2.37.
Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Friday, June 2nd. The construction company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The firm had revenue of $585.90 million for the quarter, compared to analyst estimates of $558.55 million. Hovnanian Enterprises had a negative return on equity of 8.20% and a net margin of 0.56%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS. Equities analysts predict that Hovnanian Enterprises Inc will post $0.05 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the company. BidaskClub downgraded Hovnanian Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. JMP Securities reissued an “underperform” rating and set a $1.30 target price (down from $1.60) on shares of Hovnanian Enterprises in a research report on Friday, April 14th.
About Hovnanian Enterprises
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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