Connor Clark & Lunn Investment Management Ltd. Acquires New Stake in Hovnanian Enterprises, Inc. (NYSE:HOV)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,183 shares of the construction company’s stock, valued at approximately $216,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of Hovnanian Enterprises as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. GW&K Investment Management LLC purchased a new stake in Hovnanian Enterprises during the first quarter valued at $8,755,000. Summit Global Investments bought a new stake in Hovnanian Enterprises during the first quarter valued at about $631,000. Barclays PLC grew its holdings in Hovnanian Enterprises by 74.1% during the first quarter. Barclays PLC now owns 2,448 shares of the construction company’s stock valued at $166,000 after purchasing an additional 1,042 shares during the period. Royce & Associates LP bought a new stake in Hovnanian Enterprises during the first quarter valued at about $3,575,000. Finally, Jump Financial LLC bought a new stake in Hovnanian Enterprises during the first quarter valued at about $529,000. Hedge funds and other institutional investors own 39.60% of the company’s stock.

Hovnanian Enterprises Stock Performance

NYSE:HOV opened at $94.17 on Monday. The stock has a 50-day simple moving average of $100.04 and a two-hundred day simple moving average of $83.27. Hovnanian Enterprises, Inc. has a 52-week low of $33.20 and a 52-week high of $110.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.32 and a current ratio of 1.23. The firm has a market capitalization of $565.02 million, a PE ratio of 3.80 and a beta of 2.50.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Wednesday, May 31st. The construction company reported $4.47 earnings per share for the quarter. The firm had revenue of $703.66 million during the quarter. Hovnanian Enterprises had a return on equity of 79.84% and a net margin of 6.65%. Analysts forecast that Hovnanian Enterprises, Inc. will post 18.5 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Hovnanian Enterprises in a report on Thursday, August 17th. They set a “hold” rating for the company.

Insider Transactions at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 755 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $95.00, for a total value of $71,725.00. Following the completion of the transaction, the chief executive officer now owns 74,525 shares of the company’s stock, valued at $7,079,875. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Ara K. Hovnanian sold 755 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $95.00, for a total value of $71,725.00. Following the sale, the chief executive officer now directly owns 74,525 shares in the company, valued at $7,079,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ara K. Hovnanian sold 40,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $99.81, for a total value of $3,992,400.00. Following the completion of the sale, the chief executive officer now owns 82,318 shares in the company, valued at $8,216,159.58. The disclosure for this sale can be found here. Insiders sold a total of 56,673 shares of company stock valued at $5,579,454 over the last 90 days. Company insiders own 20.31% of the company’s stock.

Hovnanian Enterprises Profile

Hovnanian Enterprises, Inc 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.