Jane Street Group LLC Cuts Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Jane Street Group LLC reduced its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 40.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,063 shares of the construction company’s stock after selling 4,075 shares during the period. Jane Street Group LLC owned about 0.10% of Hovnanian Enterprises worth $1,239,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Stifel Financial Corp raised its stake in Hovnanian Enterprises by 48.9% during the 3rd quarter. Stifel Financial Corp now owns 4,848 shares of the construction company’s stock valued at $991,000 after acquiring an additional 1,593 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Hovnanian Enterprises in the third quarter valued at $502,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in Hovnanian Enterprises during the third quarter worth about $17,449,000. Point72 Asset Management L.P. acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter worth $687,000. Finally, Centiva Capital LP acquired a new stake in shares of Hovnanian Enterprises in the third quarter valued at approximately $635,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Insider Activity

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 1,500 shares of the business’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 completion of the transaction, the director now directly owns 13,290 shares of the company’s stock, valued at $2,509,949.40. The trade was a 10.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vincent Pagano, Jr. sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $201.11, for a total value of $603,330.00. Following the completion of the transaction, the director now directly owns 24,552 shares of the company’s stock, valued at $4,937,652.72. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,144 shares of company stock worth $1,012,194. 17.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wedbush reissued a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Hovnanian Enterprises Stock Down 0.9 %

NYSE HOV opened at $133.27 on Friday. The stock has a market cap of $806.95 million, a PE ratio of 4.15 and a beta of 2.62. Hovnanian Enterprises, Inc. has a fifty-two week low of $125.63 and a fifty-two week high of $240.34. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $170.06 and a two-hundred day moving average price of $180.24.

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.