Assenagon Asset Management S.A. Purchases 789 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Assenagon Asset Management S.A. lifted its position in Hovnanian Enterprises, Inc. (NYSE:HOVFree Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,182 shares of the construction company’s stock after buying an additional 789 shares during the period. Assenagon Asset Management S.A.’s holdings in Hovnanian Enterprises were worth $10,299,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Swiss National Bank increased its holdings in shares of Hovnanian Enterprises by 8.2% in the first quarter. Swiss National Bank now owns 11,900 shares of the construction company’s stock worth $703,000 after acquiring an additional 900 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Hovnanian Enterprises by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 34,255 shares of the construction company’s stock worth $2,024,000 after purchasing an additional 1,496 shares in the last quarter. Bank of Montreal Can raised its holdings in Hovnanian Enterprises by 189.1% during the 1st quarter. Bank of Montreal Can now owns 29,080 shares of the construction company’s stock worth $1,865,000 after buying an additional 19,020 shares during the period. MetLife Investment Management LLC raised its holdings in Hovnanian Enterprises by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 3,048 shares of the construction company’s stock worth $180,000 after buying an additional 1,125 shares during the period. Finally, Rhumbline Advisers lifted its stake in Hovnanian Enterprises by 8.4% in the first quarter. Rhumbline Advisers now owns 6,777 shares of the construction company’s stock valued at $401,000 after buying an additional 526 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analysts Set New Price Targets

HOV has been the topic of several research reports. StockNews.com cut shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, March 3rd. TheStreet upgraded Hovnanian Enterprises from a “c+” rating to a “b-” rating in a report on Friday, February 16th.

Check Out Our Latest Stock Analysis on HOV

Insiders Place Their Bets

In other news, CEO Ara K. Hovnanian sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $157.82, for a total value of $157,820.00. Following the completion of the sale, the chief executive officer now owns 51,475 shares of the company’s stock, valued at approximately $8,123,784.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 17.67% of the company’s stock.

Hovnanian Enterprises Price Performance

Shares of HOV opened at $156.94 on Friday. The company has a 50 day moving average of $154.65 and a 200-day moving average of $125.89. The company has a quick ratio of 0.86, a current ratio of 4.07 and a debt-to-equity ratio of 2.19. The stock has a market capitalization of $956.71 million, a P/E ratio of 5.64 and a beta of 2.61. Hovnanian Enterprises, Inc. has a twelve month low of $61.10 and a twelve month high of $183.60.

Hovnanian Enterprises (NYSE:HOVGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.75 EPS for the quarter. The firm had revenue of $594.20 million for the quarter. Hovnanian Enterprises had a net margin of 7.45% and a return on equity of 58.22%.

About Hovnanian Enterprises

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Hovnanian Enterprises (NYSE:HOV)

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