Stifel Financial Corp Increases Stake in Hovnanian Enterprises, Inc. (NYSE:HOV)

Stifel Financial Corp lifted its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 48.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,848 shares of the construction company’s stock after buying an additional 1,593 shares during the quarter. Stifel Financial Corp’s holdings in Hovnanian Enterprises were worth $991,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HOV. American Century Companies Inc. increased its holdings in Hovnanian Enterprises by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after acquiring an additional 18,622 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Hovnanian Enterprises during the third quarter valued at about $17,449,000. Brightline Capital Management LLC increased its holdings in shares of Hovnanian Enterprises by 68.8% in the third quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock worth $16,554,000 after purchasing an additional 33,000 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Hovnanian Enterprises by 8.3% in the second quarter. AQR Capital Management LLC now owns 67,180 shares of the construction company’s stock worth $9,534,000 after buying an additional 5,135 shares in the last quarter. Finally, Foundry Partners LLC boosted its stake in Hovnanian Enterprises by 53.3% during the third quarter. Foundry Partners LLC now owns 52,809 shares of the construction company’s stock valued at $10,793,000 after buying an additional 18,372 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV opened at $135.40 on Tuesday. The firm has a fifty day simple moving average of $176.73 and a two-hundred day simple moving average of $181.26. Hovnanian Enterprises, Inc. has a 52 week low of $125.63 and a 52 week high of $240.34. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $819.85 million, a P/E ratio of 4.22 and a beta of 2.62.

Insider Activity at Hovnanian Enterprises

In other news, Director Edward A. Kangas sold 1,500 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the sale, the director now owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. This represents a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ara K. Hovnanian sold 877 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $203.27, for a total transaction of $178,267.79. Following the completion of the sale, the chief executive officer now owns 46,279 shares of the company’s stock, valued at $9,407,132.33. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,552 shares of company stock valued at $1,299,715. Insiders own 17.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush reaffirmed a “neutral” rating and issued a $155.00 price objective on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

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.