Sei Investments Co. Increases Holdings in Hovnanian Enterprises Inc $HOV

Sei Investments Co. increased its position in shares of Hovnanian Enterprises Inc (NYSE:HOV) by 101.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,288 shares of the construction company’s stock after purchasing an additional 17,811 shares during the quarter. Sei Investments Co. owned 0.59% of Hovnanian Enterprises worth $3,914,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Osaic Holdings Inc. raised its position in Hovnanian Enterprises by 72.1% during the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock worth $45,000 after buying an additional 181 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Hovnanian Enterprises by 614.1% during the 2nd 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 during the period. State of Wyoming purchased a new stake in shares of Hovnanian Enterprises in the 1st quarter valued at $62,000. International Assets Investment Management LLC purchased a new stake in shares of Hovnanian Enterprises in the 4th quarter valued at $117,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Hovnanian Enterprises by 38.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,369 shares of the construction company’s stock worth $134,000 after acquiring an additional 378 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Down 2.7%

Shares of HOV stock opened at $134.20 on Friday. The stock has a 50 day moving average of $127.56 and a 200 day moving average of $118.84. The company has a current ratio of 1.50, a quick ratio of 0.40 and a debt-to-equity ratio of 0.05. The stock has a market cap of $786.41 million, a P/E ratio of 36.87 and a beta of 1.83. Hovnanian Enterprises Inc has a twelve month low of $91.52 and a twelve month high of $162.05.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, May 21st. The construction company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($2.04) by $1.58. The business had revenue of $667.65 million for the quarter, compared to analyst estimates of $626.40 million. Hovnanian Enterprises had a return on equity of 11.23% and a net margin of 1.25%.

Insider Buying and Selling at Hovnanian Enterprises

In related news, Director J Larry Sorsby sold 1,032 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $142.57, for a total transaction of $147,132.24. Following the sale, the director directly owned 187,416 shares of the company’s stock, valued at approximately $26,719,899.12. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ara K. Hovnanian sold 12,880 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $125.78, for a total transaction of $1,620,046.40. The SEC filing for this sale provides additional information. Insiders own 22.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of Hovnanian Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 16th. Citizens Jmp initiated coverage on shares of Hovnanian Enterprises in a report on Thursday, April 9th. They issued a “market underperform” rating and a $74.00 price target on the stock. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $97.00.

About Hovnanian Enterprises

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.