8,910 Shares in Hovnanian Enterprises Inc $HOV Bought by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC bought a new stake in Hovnanian Enterprises Inc (NYSE:HOV) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 8,910 shares of the construction company’s stock, valued at approximately $1,145,000.

Other institutional investors also recently bought and sold shares of the company. Forager Capital Management LLC boosted its position in shares of Hovnanian Enterprises by 18.2% during the 2nd quarter. Forager Capital Management LLC now owns 239,500 shares of the construction company’s stock worth $25,040,000 after acquiring an additional 36,828 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Hovnanian Enterprises by 20.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 55,067 shares of the construction company’s stock worth $5,766,000 after purchasing an additional 9,445 shares during the last quarter. American Century Companies Inc. boosted its holdings in Hovnanian Enterprises by 1.2% in the second quarter. American Century Companies Inc. now owns 33,472 shares of the construction company’s stock valued at $3,499,000 after purchasing an additional 410 shares in the last quarter. Empowered Funds LLC increased its stake in Hovnanian Enterprises by 3.1% in the second quarter. Empowered Funds LLC now owns 32,254 shares of the construction company’s stock valued at $3,372,000 after purchasing an additional 960 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Hovnanian Enterprises by 32.2% in the second quarter. Bank of America Corp DE now owns 21,225 shares of the construction company’s stock valued at $2,219,000 after purchasing an additional 5,164 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Hovnanian Enterprises Stock Up 3.1%

HOV stock opened at $101.07 on Thursday. The company has a market cap of $595.30 million, a price-to-earnings ratio of 13.49 and a beta of 2.10. The company has a fifty day moving average price of $118.19 and a 200 day moving average price of $123.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 0.36. Hovnanian Enterprises Inc has a 12 month low of $81.15 and a 12 month high of $162.05.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Thursday, December 4th. The construction company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($1.14). Hovnanian Enterprises had a return on equity of 15.33% and a net margin of 2.14%.The business had revenue of $817.90 million for the quarter, compared to analysts’ expectations of $814.50 million. During the same period in the previous year, the business posted $13.84 earnings per share. The company’s revenue for the quarter was down 16.5% on a year-over-year basis.

Analysts Set New Price Targets

Several analysts have recently weighed in on HOV shares. Wall Street Zen upgraded shares of Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Wedbush reissued a “neutral” rating and issued a $120.00 price target on shares of Hovnanian Enterprises in a research report on Wednesday, August 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $120.00.

Hovnanian Enterprises Profile

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.