Los Angeles Capital Management LLC Decreases Stake in Hovnanian Enterprises, Inc. (NYSE:HOV)

Los Angeles Capital Management LLC reduced its position in Hovnanian Enterprises, Inc. (NYSE:HOV) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,458 shares of the construction company’s stock after selling 600 shares during the period. Los Angeles Capital Management LLC’s holdings in Hovnanian Enterprises were worth $1,058,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Innealta Capital LLC bought a new position in shares of Hovnanian Enterprises during the second quarter worth about $37,000. CWM LLC lifted its position in shares of Hovnanian Enterprises by 3,541.7% during the first quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after purchasing an additional 425 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Hovnanian Enterprises by 27.4% during the fourth quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock worth $123,000 after purchasing an additional 170 shares during the last quarter. EntryPoint Capital LLC lifted its position in shares of Hovnanian Enterprises by 309.9% during the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after purchasing an additional 626 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Hovnanian Enterprises during the second quarter worth about $156,000. Institutional investors own 65.40% of the company’s stock.

Insider Buying and Selling at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 1,123 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $140.05, for a total value of $157,276.15. Following the sale, the chief executive officer now owns 59,859 shares in the company, valued at $8,383,252.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 1,123 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $140.05, for a total value of $157,276.15. Following the sale, the chief executive officer now owns 59,859 shares in the company, valued at $8,383,252.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ara K. Hovnanian sold 4,548 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $146.66, for a total transaction of $667,009.68. Following the transaction, the chief executive officer now owns 60,982 shares in the company, valued at approximately $8,943,620.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,125 shares of company stock worth $14,117,444. 17.67% of the stock is owned by company insiders.

Hovnanian Enterprises Price Performance

HOV opened at $198.32 on Friday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 6.61 and a beta of 2.64. Hovnanian Enterprises, Inc. has a fifty-two week low of $65.22 and a fifty-two week high of $240.34. The company’s 50-day moving average price is $190.56 and its 200 day moving average price is $163.44. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Thursday, August 22nd. The construction company reported $9.75 EPS for the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. The company had revenue of $722.70 million for the quarter. During the same quarter in the previous year, the business posted $7.38 EPS. As a group, sell-side analysts expect that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zelman & Associates upgraded shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price objective on the stock in a research note on Thursday, May 23rd. StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

Hovnanian Enterprises Profile

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.