Renaissance Technologies LLC Decreases Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Renaissance Technologies LLC decreased its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 218,315 shares of the construction company’s stock after selling 5,400 shares during the quarter. Renaissance Technologies LLC owned approximately 3.64% of Hovnanian Enterprises worth $30,983,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of Hovnanian Enterprises in the second quarter worth about $37,000. CWM LLC lifted its stake in shares of Hovnanian Enterprises by 3,541.7% in the first quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after acquiring an additional 425 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Hovnanian Enterprises by 27.4% in the fourth quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock worth $123,000 after acquiring an additional 170 shares in the last quarter. EntryPoint Capital LLC lifted its stake in shares of Hovnanian Enterprises by 309.9% in the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after acquiring an additional 626 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Hovnanian Enterprises in the second quarter worth about $156,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insider Activity

In other news, Director Edward A. Kangas sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $232.21, for a total transaction of $928,840.00. Following the completion of the transaction, the director now directly owns 14,790 shares of the company’s stock, valued at $3,434,385.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Edward A. Kangas sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $232.21, for a total transaction of $928,840.00. Following the completion of the transaction, the director now directly owns 14,790 shares of the company’s stock, valued at $3,434,385.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ara K. Hovnanian sold 4,548 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $146.66, for a total value of $667,009.68. Following the completion of the transaction, the chief executive officer now directly owns 60,982 shares of the company’s stock, valued at $8,943,620.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,677 shares of company stock valued at $17,033,021. 17.67% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on HOV. Zelman & Associates upgraded Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price target on the stock in a research note on Thursday, May 23rd. StockNews.com cut Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

Hovnanian Enterprises Trading Up 0.4 %

Shares of NYSE HOV opened at $224.37 on Friday. The stock’s 50 day moving average price is $196.91 and its two-hundred day moving average price is $165.41. Hovnanian Enterprises, Inc. has a 52-week low of $65.22 and a 52-week high of $240.34. The stock has a market capitalization of $1.34 billion, a P/E ratio of 7.66 and a beta of 2.64. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20.

Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Thursday, August 22nd. The construction company reported $9.75 EPS for the quarter. The company had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. During the same period last year, the company posted $7.38 earnings per share. On average, analysts anticipate that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current fiscal year.

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.