Hovnanian Enterprises, Inc. Class A (NYSE:HOV) traded up 7% during mid-day trading on Friday . The stock traded as high as $1.53 and last traded at $1.52. 1,446,279 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 1,422,260 shares. The stock had previously closed at $1.42.

Several equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Hovnanian Enterprises, Inc. Class A from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. JMP Securities raised shares of Hovnanian Enterprises, Inc. Class A from an “underperform” rating to a “market perform” rating and set a $1.30 price target for the company in a report on Tuesday, October 9th.

Hovnanian Enterprises, Inc. Class A (NYSE:HOV) last released its quarterly earnings results on Monday, September 10th. The construction company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. The firm had revenue of $456.70 million for the quarter, compared to analyst estimates of $504.30 million. Hovnanian Enterprises, Inc. Class A’s revenue for the quarter was down 22.9% on a year-over-year basis. During the same period in the previous year, the business posted ($2.28) earnings per share.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lucas Capital Management acquired a new stake in Hovnanian Enterprises, Inc. Class A during the 2nd quarter valued at $341,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in Hovnanian Enterprises, Inc. Class A by 86.5% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 141,000 shares of the construction company’s stock valued at $258,000 after purchasing an additional 65,400 shares in the last quarter. Millennium Management LLC grew its holdings in Hovnanian Enterprises, Inc. Class A by 444.7% during the 1st quarter. Millennium Management LLC now owns 501,400 shares of the construction company’s stock valued at $918,000 after purchasing an additional 409,349 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in Hovnanian Enterprises, Inc. Class A by 235.6% during the 1st quarter. MetLife Investment Advisors LLC now owns 62,850 shares of the construction company’s stock valued at $115,000 after purchasing an additional 44,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Hovnanian Enterprises, Inc. Class A by 86.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,561,077 shares of the construction company’s stock valued at $4,687,000 after purchasing an additional 1,184,904 shares in the last quarter. 37.16% of the stock is owned by institutional investors and hedge funds.

About Hovnanian Enterprises, Inc. Class A (NYSE:HOV)

Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company markets its build homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 130 communities in 24 markets.

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