Los Angeles Capital Management LLC Sells 913 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Los Angeles Capital Management LLC reduced its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 16.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,554 shares of the construction company’s stock after selling 913 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Hovnanian Enterprises were worth $609,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HOV. Creative Planning bought a new position in Hovnanian Enterprises in the third quarter worth $202,000. Allspring Global Investments Holdings LLC bought a new position in shares of Hovnanian Enterprises in the third quarter worth approximately $33,000. Farther Finance Advisors LLC boosted its stake in Hovnanian Enterprises by 4,983.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,186 shares of the construction company’s stock valued at $447,000 after purchasing an additional 2,143 shares during the last quarter. Olympiad Research LP purchased a new position in Hovnanian Enterprises in the 3rd quarter worth about $225,000. Finally, GSA Capital Partners LLP lifted its position in Hovnanian Enterprises by 15.6% during the third quarter. GSA Capital Partners LLP now owns 6,627 shares of the construction company’s stock valued at $1,354,000 after purchasing an additional 895 shares during the period. Institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Price Performance

HOV opened at $101.79 on Monday. Hovnanian Enterprises, Inc. has a 52-week low of $100.50 and a 52-week high of $240.34. The business has a fifty day moving average of $129.53 and a 200 day moving average of $168.75. The stock has a market cap of $616.34 million, a P/E ratio of 3.17 and a beta of 2.71. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14.

Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Thursday, February 27th. The construction company reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.87. The company had revenue of $673.62 million during the quarter, compared to analyst estimates of $705.80 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HOV. Wedbush reissued a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a research report on Monday, December 16th. Zelman & Associates reiterated an “underperform” rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th.

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.