Algert Global LLC Lowers Stock Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Algert Global LLC lowered its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 49.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,590 shares of the construction company’s stock after selling 5,510 shares during the period. Algert Global LLC owned about 0.09% of Hovnanian Enterprises worth $793,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HOV. Innealta Capital LLC purchased a new stake in Hovnanian Enterprises during the 2nd quarter valued at about $37,000. CWM LLC increased its position in Hovnanian Enterprises by 3,541.7% during the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after buying an additional 425 shares in the last quarter. EntryPoint Capital LLC raised its position in shares of Hovnanian Enterprises by 309.9% in the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after purchasing an additional 626 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Hovnanian Enterprises in the second quarter worth approximately $156,000. Finally, Entropy Technologies LP purchased a new stake in Hovnanian Enterprises during the 1st quarter valued at $205,000. Institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 4,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $232.21, for a total value of $928,840.00. Following the completion of the transaction, the director now owns 14,790 shares of the company’s stock, valued at approximately $3,434,385.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Edward A. Kangas sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $232.21, for a total value of $928,840.00. Following the completion of the sale, the director now owns 14,790 shares in the company, valued at approximately $3,434,385.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ara K. Hovnanian sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $229.45, for a total value of $4,589,000.00. Following the transaction, the chief executive officer now owns 12,890 shares of the company’s stock, valued at $2,957,610.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,913 shares of company stock valued at $14,561,377. 17.67% of the stock is owned by corporate insiders.

Hovnanian Enterprises Trading Down 0.6 %

Shares of Hovnanian Enterprises stock opened at $197.88 on Friday. The company has a fifty day moving average of $202.58 and a 200 day moving average of $170.52. Hovnanian Enterprises, Inc. has a fifty-two week low of $65.22 and a fifty-two week high of $240.34. The company has a market capitalization of $1.19 billion, a P/E ratio of 6.60 and a beta of 2.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45.

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

Hovnanian Enterprises 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.