Barclays PLC Buys 6,446 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Barclays PLC boosted its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 352.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,274 shares of the construction company’s stock after purchasing an additional 6,446 shares during the period. Barclays PLC owned about 0.14% of Hovnanian Enterprises worth $1,691,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HOV. Point72 Asset Management L.P. acquired a new position in shares of Hovnanian Enterprises during the third quarter worth $687,000. Charles Schwab Investment Management Inc. increased its holdings in Hovnanian Enterprises by 92.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock worth $10,212,000 after purchasing an additional 23,990 shares in the last quarter. Truist Financial Corp bought a new position in Hovnanian Enterprises in the second quarter valued at about $352,000. Victory Capital Management Inc. boosted its stake in shares of Hovnanian Enterprises by 88.1% during the second quarter. Victory Capital Management Inc. now owns 14,334 shares of the construction company’s stock valued at $2,034,000 after purchasing an additional 6,715 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Hovnanian Enterprises during the third quarter worth about $33,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insider Activity

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 644 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $194.99, for a total transaction of $125,573.56. Following the sale, the chief executive officer now owns 45,635 shares of the company’s stock, valued at approximately $8,898,368.65. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $188.86, for a total value of $283,290.00. Following the sale, the director now owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. The trade was a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.67% of the company’s stock.

Hovnanian Enterprises Stock Performance

NYSE HOV opened at $118.04 on Friday. The company has a market capitalization of $714.73 million, a price-to-earnings ratio of 3.68 and a beta of 2.70. 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, Inc. has a twelve month low of $117.62 and a twelve month high of $240.34. The stock has a fifty day simple moving average of $160.06 and a 200 day simple moving average of $179.18.

Wall Street Analyst Weigh In

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

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.