Mackenzie Financial Corp Takes Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Mackenzie Financial Corp purchased a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,286 shares of the construction company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quantedge Capital Pte Ltd acquired a new stake in Hovnanian Enterprises in the third quarter valued at $2,521,000. Invesco Ltd. lifted its stake in Hovnanian Enterprises by 26.9% in the third quarter. Invesco Ltd. now owns 79,625 shares of the construction company’s stock valued at $8,095,000 after acquiring an additional 16,866 shares during the last quarter. American Century Companies Inc. lifted its stake in Hovnanian Enterprises by 25.5% in the third quarter. American Century Companies Inc. now owns 81,645 shares of the construction company’s stock valued at $8,300,000 after acquiring an additional 16,575 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Hovnanian Enterprises in the third quarter valued at $1,614,000. Finally, SG Americas Securities LLC lifted its stake in Hovnanian Enterprises by 588.9% in the fourth quarter. SG Americas Securities LLC now owns 14,873 shares of the construction company’s stock valued at $2,315,000 after acquiring an additional 12,714 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

Hovnanian Enterprises Stock Up 1.2 %

HOV stock opened at $151.75 on Tuesday. The company has a market cap of $925.68 million, a PE ratio of 5.46 and a beta of 2.61. The company has a quick ratio of 0.86, a current ratio of 4.07 and a debt-to-equity ratio of 2.19. Hovnanian Enterprises, Inc. has a 52 week low of $65.22 and a 52 week high of $183.60. The business has a 50-day simple moving average of $146.86 and a 200 day simple moving average of $132.86.

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

Insider Buying and Selling at Hovnanian Enterprises

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

Analysts Set New Price Targets

HOV has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Hovnanian Enterprises from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. StockNews.com downgraded shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, March 3rd. Finally, Zelman & Associates reiterated an “underperform” rating on shares of Hovnanian Enterprises in a research note on Friday, April 12th.

Hovnanian Enterprises Company 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.