Mackay Shields LLC lessened its stake in Hovnanian Enterprises, Inc. Class A (NYSE:HOV) by 48.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 324,732 shares of the construction company’s stock after selling 299,400 shares during the period. Mackay Shields LLC’s holdings in Hovnanian Enterprises, Inc. Class A were worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Deutsche Bank AG increased its holdings in shares of Hovnanian Enterprises, Inc. Class A by 299.0% in the fourth quarter. Deutsche Bank AG now owns 456,940 shares of the construction company’s stock valued at $1,529,000 after purchasing an additional 342,412 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Hovnanian Enterprises, Inc. Class A in the fourth quarter valued at $308,000. Sullivan Bruyette Speros & Blaney LLC increased its holdings in shares of Hovnanian Enterprises, Inc. Class A by 31.7% in the first quarter. Sullivan Bruyette Speros & Blaney LLC now owns 140,580 shares of the construction company’s stock valued at $257,000 after purchasing an additional 33,814 shares during the last quarter. Spark Investment Management LLC increased its holdings in shares of Hovnanian Enterprises, Inc. Class A by 30.7% in the first quarter. Spark Investment Management LLC now owns 584,100 shares of the construction company’s stock valued at $1,068,000 after purchasing an additional 137,100 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Hovnanian Enterprises, Inc. Class A by 33.5% in the first quarter. California Public Employees Retirement System now owns 272,776 shares of the construction company’s stock valued at $499,000 after purchasing an additional 68,476 shares during the last quarter. 37.44% of the stock is owned by institutional investors and hedge funds.

Separately, ValuEngine downgraded shares of Hovnanian Enterprises, Inc. Class A from a “hold” rating to a “sell” rating in a report on Monday, July 2nd.

NYSE:HOV opened at $1.53 on Friday. Hovnanian Enterprises, Inc. Class A has a one year low of $1.51 and a one year high of $3.41. The company has a current ratio of 0.79, a quick ratio of 0.24 and a debt-to-equity ratio of -0.11.

Hovnanian Enterprises, Inc. Class A (NYSE:HOV) last released its quarterly earnings data on Thursday, June 7th. The construction company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). The business had revenue of $502.50 million for the quarter, compared to analysts’ expectations of $511.10 million. During the same quarter in the prior year, the company posted ($0.05) EPS. Hovnanian Enterprises, Inc. Class A’s revenue was down 14.2% on a year-over-year basis.

Hovnanian Enterprises, Inc. Class A Profile

Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company markets its build homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 130 communities in 24 markets.

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Institutional Ownership by Quarter for Hovnanian Enterprises, Inc. Class A (NYSE:HOV)

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