Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 54.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,049 shares of the construction company’s stock after selling 1,243 shares during the quarter. BNP Paribas Financial Markets’ holdings in Hovnanian Enterprises were worth $214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HOV. American Century Companies Inc. grew its stake in Hovnanian Enterprises by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after purchasing an additional 18,622 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Hovnanian Enterprises by 8.3% in the 2nd quarter. AQR Capital Management LLC now owns 67,180 shares of the construction company’s stock valued at $9,534,000 after buying an additional 5,135 shares during the period. Foundry Partners LLC grew its holdings in shares of Hovnanian Enterprises by 53.3% during the third quarter. Foundry Partners LLC now owns 52,809 shares of the construction company’s stock valued at $10,793,000 after purchasing an additional 18,372 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Hovnanian Enterprises by 92.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock worth $10,212,000 after buying an additional 23,990 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Hovnanian Enterprises by 26.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 47,561 shares of the construction company’s stock valued at $9,720,000 after purchasing an additional 9,825 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HOV. Wedbush reissued a “neutral” rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a research note on Monday. StockNews.com cut shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

Hovnanian Enterprises Stock Down 6.2 %

Hovnanian Enterprises stock opened at $147.20 on Tuesday. The firm’s fifty day simple moving average is $181.17 and its 200-day simple moving average is $181.65. Hovnanian Enterprises, Inc. has a 1-year low of $125.63 and a 1-year high of $240.34. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $891.30 million, a P/E ratio of 4.58 and a beta of 2.62.

Insider Buying and Selling

In related news, CEO Ara K. Hovnanian sold 644 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $194.99, for a total value of $125,573.56. Following the completion of the transaction, the chief executive officer now owns 45,635 shares of the company’s stock, valued at $8,898,368.65. This represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $188.86, for a total transaction of $283,290.00. Following the transaction, the director now 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. Insiders have sold 10,737 shares of company stock worth $2,243,218 in the last quarter. 17.67% of the stock is currently owned by company insiders.

About Hovnanian Enterprises

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.