Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,331 shares of the construction company’s stock after selling 4,049 shares during the period. Acadian Asset Management LLC owned about 1.01% of Hovnanian Enterprises worth $9,624,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Hovnanian Enterprises by 6.1% during the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock worth $44,011,000 after purchasing an additional 16,012 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Hovnanian Enterprises by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 181,338 shares of the construction company’s stock worth $28,221,000 after buying an additional 1,433 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Hovnanian Enterprises by 25.5% in the third quarter. American Century Companies Inc. now owns 81,645 shares of the construction company’s stock worth $8,300,000 after buying an additional 16,575 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Hovnanian Enterprises by 1.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 66,182 shares of the construction company’s stock worth $10,299,000 after buying an additional 789 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Hovnanian Enterprises by 17.4% in the fourth quarter. UBS Group AG now owns 53,332 shares of the construction company’s stock worth $8,300,000 after buying an additional 7,900 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HOV shares. StockNews.com upgraded shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research note on Friday. Zelman & Associates upgraded shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price target for the company in a research note on Thursday, May 23rd.

Insider Transactions at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 14,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $153.30, for a total transaction of $2,146,200.00. Following the completion of the transaction, the chief executive officer now owns 34,075 shares in the company, valued at $5,223,697.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ara K. Hovnanian sold 14,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $153.30, for a total transaction of $2,146,200.00. Following the completion of the transaction, the chief executive officer now owns 34,075 shares in the company, valued at $5,223,697.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward A. Kangas sold 2,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $144.72, for a total transaction of $289,440.00. Following the completion of the sale, the director now directly owns 21,743 shares of the company’s stock, valued at approximately $3,146,646.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,816 shares of company stock worth $6,966,617. Insiders own 17.67% of the company’s stock.

Hovnanian Enterprises Stock Performance

HOV stock traded up $3.10 during trading on Friday, hitting $180.65. 43,470 shares of the company’s stock traded hands, compared to its average volume of 91,845. The company has a quick ratio of 0.32, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Hovnanian Enterprises, Inc. has a 52 week low of $65.22 and a 52 week high of $192.96. The stock has a fifty day moving average price of $152.44 and a two-hundred day moving average price of $152.64. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 6.02 and a beta of 2.58.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Wednesday, May 22nd. The construction company reported $6.66 earnings per share for the quarter. The firm had revenue of $708.38 million during the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. As a group, equities analysts anticipate that Hovnanian Enterprises, Inc. will post 27 EPS for the current fiscal year.

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.