Renaissance Technologies LLC Sells 4,200 Shares of Hovnanian Enterprises Inc $HOV

Renaissance Technologies LLC trimmed its position in shares of Hovnanian Enterprises Inc (NYSE:HOV) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,415 shares of the construction company’s stock after selling 4,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Hovnanian Enterprises were worth $18,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. increased its position in Hovnanian Enterprises by 101.9% during the first quarter. Sei Investments Co. now owns 35,288 shares of the construction company’s stock valued at $3,914,000 after acquiring an additional 17,811 shares during the last quarter. State of Wyoming bought a new stake in shares of Hovnanian Enterprises in the 1st quarter worth about $62,000. First Trust Advisors LP lifted its holdings in shares of Hovnanian Enterprises by 1.2% in the 1st quarter. First Trust Advisors LP now owns 14,847 shares of the construction company’s stock worth $1,647,000 after acquiring an additional 170 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Hovnanian Enterprises by 11.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,846 shares of the construction company’s stock worth $429,000 after purchasing an additional 393 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of Hovnanian Enterprises during the 1st quarter worth about $559,000. Institutional investors own 65.40% of the company’s stock.

Insider Transactions at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 12,880 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $125.78, for a total transaction of $1,620,046.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J Larry Sorsby sold 1,032 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $142.57, for a total transaction of $147,132.24. Following the transaction, the director directly owned 187,416 shares in the company, valued at approximately $26,719,899.12. This trade represents a 0.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 22.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Hovnanian Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 16th. Citizens Jmp initiated coverage on Hovnanian Enterprises in a research report on Thursday, April 9th. They set a “market underperform” rating and a $74.00 target price for the company. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hovnanian Enterprises currently has a consensus rating of “Reduce” and a consensus price target of $97.00.

Hovnanian Enterprises Stock Down 2.6%

NYSE:HOV opened at $129.39 on Friday. Hovnanian Enterprises Inc has a twelve month low of $91.52 and a twelve month high of $162.05. The company has a market cap of $758.20 million, a price-to-earnings ratio of 35.55 and a beta of 1.81. The stock has a fifty day simple moving average of $125.24 and a 200-day simple moving average of $118.56. The company has a current ratio of 1.50, a quick ratio of 0.40 and a debt-to-equity ratio of 0.05.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, May 21st. The construction company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.04) by $1.58. The firm had revenue of $667.65 million during the quarter, compared to analyst estimates of $626.40 million. Hovnanian Enterprises had a net margin of 1.25% and a return on equity of 11.23%.

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.