Hovnanian Enterprises (NYSE:HOV) Trading 4.9% Higher

Hovnanian Enterprises, Inc. (NYSE:HOV) shares were up 4.9% during trading on Thursday . The stock traded as high as $136.99 and last traded at $134.76. Approximately 15,910 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 81,753 shares. The stock had previously closed at $128.50.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HOV. Zelman & Associates reaffirmed an “underperform” rating on shares of Hovnanian Enterprises in a report on Friday, April 12th. TheStreet raised shares of Hovnanian Enterprises from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Finally, StockNews.com cut shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, March 3rd.

Hovnanian Enterprises Price Performance

The firm has a market cap of $799.10 million, a PE ratio of 4.85 and a beta of 2.61. The company has a current ratio of 4.07, a quick ratio of 0.86 and a debt-to-equity ratio of 2.19. The company has a 50 day moving average price of $149.78 and a 200 day moving average price of $129.48.

Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.75 EPS for the quarter. Hovnanian Enterprises had a return on equity of 58.22% and a net margin of 7.45%. The company had revenue of $594.20 million for the quarter.

Insider Activity at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 1,000 shares of Hovnanian Enterprises stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $157.82, for a total transaction of $157,820.00. Following the completion of the transaction, the chief executive officer now owns 51,475 shares in the company, valued at $8,123,784.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in Hovnanian Enterprises by 85.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 142,642 shares of the construction company’s stock valued at $9,676,000 after buying an additional 65,519 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Hovnanian Enterprises by 15.3% during the second quarter. Renaissance Technologies LLC now owns 261,715 shares of the construction company’s stock valued at $11,199,000 after acquiring an additional 34,810 shares during the last quarter. Norges Bank purchased a new stake in Hovnanian Enterprises during the 4th quarter worth about $1,435,000. BlackRock Inc. raised its stake in Hovnanian Enterprises by 9.9% in the 2nd quarter. BlackRock Inc. now owns 331,716 shares of the construction company’s stock valued at $32,910,000 after purchasing an additional 29,938 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Hovnanian Enterprises in the 4th quarter valued at about $1,086,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

About Hovnanian Enterprises

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.