Hovnanian Enterprises Inc (HOV) Shares Bought by Alliancebernstein L.P.
Alliancebernstein L.P. raised its stake in Hovnanian Enterprises Inc (NYSE:HOV) by 75.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 734,378 shares of the construction company’s stock after purchasing an additional 315,780 shares during the period. Alliancebernstein L.P. owned 0.56% of Hovnanian Enterprises worth $2,056,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its stake in Hovnanian Enterprises by 79.1% in the second quarter. Canada Pension Plan Investment Board now owns 448,400 shares of the construction company’s stock valued at $1,256,000 after purchasing an additional 198,100 shares in the last quarter. Vanguard Group Inc. increased its stake in Hovnanian Enterprises by 21.4% in the first quarter. Vanguard Group Inc. now owns 5,399,420 shares of the construction company’s stock valued at $12,257,000 after purchasing an additional 953,607 shares in the last quarter. AQR Capital Management LLC increased its stake in Hovnanian Enterprises by 227.8% in the first quarter. AQR Capital Management LLC now owns 676,022 shares of the construction company’s stock valued at $1,535,000 after purchasing an additional 469,768 shares in the last quarter. KCG Holdings Inc. increased its stake in Hovnanian Enterprises by 120.8% in the first quarter. KCG Holdings Inc. now owns 112,744 shares of the construction company’s stock valued at $256,000 after purchasing an additional 61,679 shares in the last quarter. Finally, Lucus Advisors LLC bought a new stake in Hovnanian Enterprises in the first quarter valued at $405,000. 30.99% of the stock is owned by hedge funds and other institutional investors.
Shares of Hovnanian Enterprises Inc (HOV) opened at 2.29 on Tuesday. The firm has a 50-day moving average of $1.91 and a 200 day moving average of $2.24. Hovnanian Enterprises Inc has a 1-year low of $1.52 and a 1-year high of $2.98. The company’s market capitalization is $337.99 million.
Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Thursday, September 7th. The construction company reported ($2.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($2.27). Hovnanian Enterprises had a negative return on equity of 7.10% and a negative net margin of 12.69%. The company had revenue of $592.00 million during the quarter, compared to analysts’ expectations of $584.50 million. The firm’s revenue for the quarter was down 17.4% on a year-over-year basis. On average, equities research analysts expect that Hovnanian Enterprises Inc will post ($0.05) earnings per share for the current year.
Several equities research analysts have weighed in on the stock. BidaskClub downgraded shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. MKM Partners reaffirmed a “neutral” rating on shares of Hovnanian Enterprises in a research note on Tuesday, September 5th. Finally, TheStreet downgraded shares of Hovnanian Enterprises from a “c-” rating to a “d” rating in a research note on Thursday, September 7th.
Hovnanian Enterprises Company Profile
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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