StockNews.com Begins Coverage on Hovnanian Enterprises (NYSE:HOV)

Analysts at StockNews.com assumed coverage on shares of Hovnanian Enterprises (NYSE:HOV – Get Rating) in a research report issued on Thursday. The brokerage set a “hold” rating on the construction company’s stock.

Hovnanian Enterprises Price Performance

Shares of NYSE:HOV opened at $62.80 on Thursday. The business has a 50 day moving average price of $60.36 and a 200 day moving average price of $48.38. Hovnanian Enterprises has a twelve month low of $33.20 and a twelve month high of $78.20. The company has a market cap of $376.80 million, a price-to-earnings ratio of 2.19 and a beta of 2.51. The company has a quick ratio of 0.27, a current ratio of 1.21 and a debt-to-equity ratio of 0.51.

Insiders Place Their Bets

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $66.62, for a total value of $666,200.00. Following the completion of the sale, the director now owns 36,257 shares in the company, valued at approximately $2,415,441.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 20.31% of the company’s stock.

Institutional Trading of Hovnanian Enterprises

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Hovnanian Enterprises by 27.0% in the 3rd quarter. Victory Capital Management Inc. now owns 9,274 shares of the construction company’s stock worth $331,000 after acquiring an additional 1,971 shares during the period. Woodson Capital Management LP acquired a new position in shares of Hovnanian Enterprises in the 2nd quarter worth approximately $6,993,000. Jane Street Group LLC acquired a new position in shares of Hovnanian Enterprises in the 1st quarter worth approximately $329,000. Point72 Hong Kong Ltd acquired a new position in shares of Hovnanian Enterprises in the 1st quarter worth approximately $83,000. Finally, State Street Corp raised its holdings in shares of Hovnanian Enterprises by 2.8% in the 1st quarter. State Street Corp now owns 100,174 shares of the construction company’s stock worth $5,920,000 after buying an additional 2,744 shares in the last quarter. Institutional investors own 44.59% of the company’s stock.

About Hovnanian Enterprises

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Hovnanian Enterprises, Inc is a homebuilding company, which engages in the design, construction, and marketing of single-family attached town homes, attached townhomes and condominiums, urban infill, and lifestyle homes in planned residential developments. It operates through the following segments: Northeast, Southeast, and West.