Pacer Advisors Inc. Sells 5,383 Shares of Hovnanian Enterprises Inc $HOV

Pacer Advisors Inc. decreased its holdings in Hovnanian Enterprises Inc (NYSE:HOV) by 12.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,680 shares of the construction company’s stock after selling 5,383 shares during the period. Pacer Advisors Inc. owned approximately 0.63% of Hovnanian Enterprises worth $4,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Osaic Holdings Inc. raised its position in Hovnanian Enterprises by 72.1% in the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock worth $45,000 after purchasing an additional 181 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Hovnanian Enterprises by 614.1% during the second quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock valued at $58,000 after buying an additional 479 shares during the last quarter. State of Wyoming bought a new position in shares of Hovnanian Enterprises during the first quarter valued at about $62,000. International Assets Investment Management LLC bought a new position in shares of Hovnanian Enterprises during the fourth quarter valued at about $117,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Hovnanian Enterprises by 38.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,369 shares of the construction company’s stock worth $134,000 after buying an additional 378 shares during the period. Institutional investors own 65.40% of the company’s stock.

Insider Transactions at Hovnanian Enterprises

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HOV. Citizens Jmp initiated coverage on Hovnanian Enterprises in a research note on Thursday, April 9th. They issued a “market underperform” rating and a $74.00 target price for the company. Weiss Ratings raised Hovnanian Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 16th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $97.00.

Hovnanian Enterprises Trading Down 2.7%

Shares of HOV opened at $134.20 on Friday. The stock has a market capitalization of $786.41 million, a P/E ratio of 36.87 and a beta of 1.83. Hovnanian Enterprises Inc has a twelve month low of $91.52 and a twelve month high of $162.05. The company has a quick ratio of 0.40, a current ratio of 1.50 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $127.56 and a two-hundred day simple moving average of $118.84.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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.