The Manufacturers Life Insurance Company Grows Stake in Hovnanian Enterprises, Inc. (NYSE:HOV)

The Manufacturers Life Insurance Company raised its position in Hovnanian Enterprises, Inc. (NYSE:HOV) by 38.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,661 shares of the construction company’s stock after purchasing an additional 733 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hovnanian Enterprises were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HOV. Charles Schwab Investment Management Inc. increased its holdings in Hovnanian Enterprises by 92.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock valued at $10,212,000 after acquiring an additional 23,990 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Hovnanian Enterprises by 425,175.0% in the second quarter. Nisa Investment Advisors LLC now owns 17,011 shares of the construction company’s stock valued at $2,414,000 after purchasing an additional 17,007 shares during the last quarter. Truist Financial Corp acquired a new position in shares of Hovnanian Enterprises during the 2nd quarter worth approximately $352,000. Victory Capital Management Inc. raised its position in shares of Hovnanian Enterprises by 88.1% during the 2nd quarter. Victory Capital Management Inc. now owns 14,334 shares of the construction company’s stock worth $2,034,000 after purchasing an additional 6,715 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Hovnanian Enterprises in the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Performance

Shares of NYSE HOV opened at $156.86 on Friday. The company has a 50-day simple moving average of $182.16 and a 200-day simple moving average of $181.33. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. The company has a market cap of $949.00 million, a PE ratio of 4.89 and a beta of 2.62. Hovnanian Enterprises, Inc. has a 12 month low of $125.63 and a 12 month high of $240.34.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd.

Insiders Place Their Bets

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 644 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $194.99, for a total value of $125,573.56. Following the sale, the chief executive officer now directly owns 45,635 shares of the company’s stock, valued at approximately $8,898,368.65. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the transaction, the director now directly owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. This represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,289 shares of company stock valued at $5,158,796. Company insiders own 17.67% of the company’s stock.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.