1,701 Shares in Hovnanian Enterprises, Inc. (NYSE:HOV) Purchased by Virtu Financial LLC

Virtu Financial LLC purchased a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,701 shares of the construction company’s stock, valued at approximately $347,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter worth about $17,449,000. Brightline Capital Management LLC increased its stake in Hovnanian Enterprises by 68.8% during the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock worth $16,554,000 after buying an additional 33,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Hovnanian Enterprises by 92.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock valued at $10,212,000 after acquiring an additional 23,990 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Hovnanian Enterprises by 72.3% in the second quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock valued at $6,438,000 after acquiring an additional 19,031 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Hovnanian Enterprises by 16.1% in the second quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock worth $19,008,000 after acquiring an additional 18,622 shares during the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HOV shares. Wedbush reaffirmed a “neutral” rating and set a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday. StockNews.com downgraded shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

Hovnanian Enterprises Trading Down 6.2 %

NYSE HOV opened at $147.20 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. The firm has a market cap of $891.30 million, a price-to-earnings ratio of 4.58 and a beta of 2.62. The firm has a 50 day simple moving average of $181.17 and a 200-day simple moving average of $181.65. Hovnanian Enterprises, Inc. has a one year low of $125.63 and a one year high of $240.34.

Insider Transactions at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 123 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $220.13, for a total value of $27,075.99. Following the completion of the transaction, the chief executive officer now owns 47,156 shares in the company, valued at approximately $10,380,450.28. This represents a 0.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward A. Kangas sold 1,500 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the transaction, the director now owns 13,290 shares of the company’s stock, valued at $2,509,949.40. This represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,737 shares of company stock valued at $2,243,218. 17.67% of the stock is currently owned by corporate insiders.

Hovnanian Enterprises Company 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.