TIAA CREF Investment Management LLC Has $1.29 Million Stake in Hovnanian Enterprises Inc (HOV)
TIAA CREF Investment Management LLC increased its position in Hovnanian Enterprises Inc (NYSE:HOV) by 67.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 566,031 shares of the construction company’s stock after buying an additional 228,838 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.38% of Hovnanian Enterprises worth $1,285,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Spark Investment Management LLC bought a new stake in Hovnanian Enterprises during the first quarter worth $605,000. Canada Pension Plan Investment Board bought a new stake in Hovnanian Enterprises during the first quarter worth $568,000. Nine Chapters Capital Management LLC bought a new stake in Hovnanian Enterprises during the first quarter worth $127,000. 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 worth $5,546,000 after buying an additional 81,265 shares in the last quarter. Finally, Oxford Asset Management raised its stake in Hovnanian Enterprises by 146.9% in the first quarter. Oxford Asset Management now owns 193,881 shares of the construction company’s stock worth $440,000 after buying an additional 115,351 shares in the last quarter. Institutional investors own 29.81% of the company’s stock.
Hovnanian Enterprises Inc (NYSE HOV) traded down 1.563% during mid-day trading on Tuesday, reaching $2.205. The company’s stock had a trading volume of 73,532 shares. The company’s 50-day moving average price is $2.48 and its 200 day moving average price is $2.37. Hovnanian Enterprises Inc has a 52 week low of $1.52 and a 52 week high of $2.98. The firm has a market capitalization of $324.94 million, a price-to-earnings ratio of 22.050 and a beta of 1.69.
Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data 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 analysts’ expectations of $558.55 million. Hovnanian Enterprises had a negative return on equity of 8.20% and a net margin of 0.56%. Hovnanian Enterprises’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the firm posted ($0.06) earnings per share. On average, equities analysts forecast that Hovnanian Enterprises Inc will post $0.05 earnings per share for the current fiscal year.
Separately, BidaskClub lowered Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Friday, July 28th.
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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