Hovnanian Enterprises Inc $HOV Shares Purchased by Mutual Advisors LLC

Mutual Advisors LLC boosted its holdings in Hovnanian Enterprises Inc (NYSE:HOV) by 98.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,448 shares of the construction company’s stock after acquiring an additional 5,690 shares during the period. Mutual Advisors LLC’s holdings in Hovnanian Enterprises were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in Hovnanian Enterprises in the third quarter worth $35,000. Osaic Holdings Inc. boosted its holdings in Hovnanian Enterprises by 72.1% in the second quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock worth $45,000 after purchasing an additional 181 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Hovnanian Enterprises by 614.1% in the second quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock worth $58,000 after purchasing an additional 479 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Hovnanian Enterprises by 38.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,369 shares of the construction company’s stock worth $134,000 after purchasing an additional 378 shares during the period. Finally, Cannell & Spears LLC acquired a new position in Hovnanian Enterprises in the third quarter worth $218,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citizens Jmp assumed coverage on shares of Hovnanian Enterprises in a report on Thursday, April 9th. They issued a “market underperform” rating and a $74.00 price objective for the company. Wall Street Zen raised shares of Hovnanian Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Hovnanian Enterprises presently has a consensus rating of “Reduce” and an average price target of $97.00.

Hovnanian Enterprises Stock Performance

HOV stock opened at $100.07 on Tuesday. The company has a market capitalization of $594.39 million, a P/E ratio of 15.32 and a beta of 1.87. The company has a 50-day simple moving average of $113.33 and a 200 day simple moving average of $116.04. Hovnanian Enterprises Inc has a fifty-two week low of $85.69 and a fifty-two week high of $162.05. The company has a quick ratio of 0.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.04.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings data on Wednesday, February 25th. The construction company reported $2.62 earnings per share for the quarter, topping the consensus estimate of ($0.98) by $3.60. The business had revenue of $631.95 million during the quarter, compared to the consensus estimate of $628.50 million. Hovnanian Enterprises had a net margin of 1.92% and a return on equity of 14.14%.

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.