Renaissance Technologies LLC Lowers Holdings in Hovnanian Enterprises Inc $HOV

Renaissance Technologies LLC trimmed its holdings in Hovnanian Enterprises Inc (NYSE:HOV) by 2.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,415 shares of the construction company’s stock after selling 4,200 shares during the quarter. Renaissance Technologies LLC owned approximately 2.75% of Hovnanian Enterprises worth $18,124,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its holdings in shares of 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 buying an additional 181 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Hovnanian Enterprises by 614.1% during the second quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock valued at $58,000 after acquiring an additional 479 shares in the last quarter. State of Wyoming purchased a new position in Hovnanian Enterprises during the first quarter valued at $62,000. International Assets Investment Management LLC bought a new stake in Hovnanian Enterprises in the 4th quarter valued at $117,000. Finally, Harbor Capital Advisors Inc. increased its holdings in Hovnanian Enterprises by 38.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,369 shares of the construction company’s stock valued at $134,000 after acquiring an additional 378 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HOV has been the subject of several research reports. Citizens Jmp assumed coverage on shares of Hovnanian Enterprises in a report on Thursday, April 9th. They set a “market underperform” rating and a $74.00 price objective for the company. Weiss Ratings raised Hovnanian Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 16th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hovnanian Enterprises presently has a consensus rating of “Reduce” and a consensus target price of $97.00.

Insider Transactions at Hovnanian Enterprises

In other news, Director J Larry Sorsby sold 1,032 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $142.57, for a total value of $147,132.24. Following the sale, the director directly owned 187,416 shares in the company, valued at $26,719,899.12. The trade was a 0.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ara K. Hovnanian sold 12,880 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $125.78, for a total transaction of $1,620,046.40. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 22.67% of the company’s stock.

Hovnanian Enterprises Stock Down 2.6%

NYSE HOV opened at $129.39 on Friday. The stock has a 50 day moving average price of $125.24 and a 200-day moving average price of $118.56. Hovnanian Enterprises Inc has a one year low of $91.52 and a one year high of $162.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.40 and a current ratio of 1.50. The company has a market capitalization of $758.20 million, a P/E ratio of 35.55 and a beta of 1.81.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Thursday, May 21st. The construction company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $1.58. Hovnanian Enterprises had a net margin of 1.25% and a return on equity of 11.23%. The company had revenue of $667.65 million for the quarter, compared to analysts’ expectations of $626.40 million.

Hovnanian Enterprises Company Profile

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.