Penn Capital Management Company LLC Buys Shares of 5,317 Hovnanian Enterprises Inc $HOV

Penn Capital Management Company LLC purchased a new stake in Hovnanian Enterprises Inc (NYSE:HOV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,317 shares of the construction company’s stock, valued at approximately $683,000. Penn Capital Management Company LLC owned approximately 0.09% of Hovnanian Enterprises as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Mariner LLC increased its holdings in Hovnanian Enterprises by 47.2% during the third quarter. Mariner LLC now owns 6,998 shares of the construction company’s stock valued at $899,000 after buying an additional 2,243 shares during the period. Millennium Management LLC raised its stake in Hovnanian Enterprises by 20.9% in the third quarter. Millennium Management LLC now owns 43,543 shares of the construction company’s stock worth $5,595,000 after buying an additional 7,525 shares in the last quarter. Cannell & Spears LLC purchased a new stake in Hovnanian Enterprises during the third quarter worth $218,000. Centiva Capital LP purchased a new stake in Hovnanian Enterprises during the third quarter worth $292,000. Finally, Aquatic Capital Management LLC boosted its position in Hovnanian Enterprises by 144.9% during the 3rd quarter. Aquatic Capital Management LLC now owns 3,331 shares of the construction company’s stock valued at $428,000 after acquiring an additional 1,971 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Trading Down 2.3%

NYSE HOV opened at $105.16 on Thursday. The company has a quick ratio of 0.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.04. The firm has a market cap of $625.70 million, a PE ratio of 16.10 and a beta of 2.28. The company has a 50 day moving average price of $119.62 and a 200 day moving average price of $121.65. Hovnanian Enterprises Inc has a 52 week low of $81.15 and a 52 week high of $162.05.

Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Wednesday, February 25th. The construction company reported $2.62 earnings per share for the quarter, beating the consensus estimate of ($0.98) by $3.60. Hovnanian Enterprises had a net margin of 1.92% and a return on equity of 14.14%. The company had revenue of $631.95 million during the quarter, compared to the consensus estimate of $628.50 million.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HOV. Weiss Ratings reiterated a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Thursday, January 22nd. Wall Street Zen upgraded Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Hovnanian Enterprises presently has an average rating of “Hold” and a consensus price target of $120.00.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.