Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 26.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,561 shares of the construction company’s stock after buying an additional 9,825 shares during the period. Assenagon Asset Management S.A.’s holdings in Hovnanian Enterprises were worth $9,720,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Koss Olinger Consulting LLC lifted its stake in shares of Hovnanian Enterprises by 3.5% in the 3rd quarter. Koss Olinger Consulting LLC now owns 3,404 shares of the construction company’s stock valued at $696,000 after purchasing an additional 115 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Hovnanian Enterprises in the 3rd quarter valued at $33,000. Creative Planning acquired a new position in shares of Hovnanian Enterprises in the 3rd quarter valued at $202,000. Exchange Traded Concepts LLC acquired a new position in shares of Hovnanian Enterprises in the 3rd quarter valued at $288,000. Finally, Profit Investment Management LLC purchased a new stake in shares of Hovnanian Enterprises in the 3rd quarter valued at $2,066,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insiders Place Their Bets

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $229.45, for a total transaction of $4,589,000.00. Following the sale, the chief executive officer now owns 12,890 shares in the company, valued at $2,957,610.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ara K. Hovnanian sold 20,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $229.45, for a total value of $4,589,000.00. Following the transaction, the chief executive officer now owns 12,890 shares in the company, valued at approximately $2,957,610.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ara K. Hovnanian sold 644 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $223.11, for a total value of $143,682.84. Following the completion of the transaction, the chief executive officer now owns 60,831 shares in the company, valued at approximately $13,572,004.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,057 shares of company stock worth $12,824,040 in the last quarter. 17.67% of the stock is owned by company insiders.

Hovnanian Enterprises Price Performance

HOV stock opened at $174.09 on Monday. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.04 billion, a PE ratio of 5.80 and a beta of 2.59. Hovnanian Enterprises, Inc. has a 12-month low of $65.22 and a 12-month high of $240.34. The business’s fifty day moving average price is $203.27 and its 200 day moving average price is $175.12.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Hovnanian Enterprises from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

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.