Assenagon Asset Management S.A. Has $4.23 Million Stock Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Assenagon Asset Management S.A. lifted its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 26.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,423 shares of the construction company’s stock after acquiring an additional 8,388 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.68% of Hovnanian Enterprises worth $4,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Hovnanian Enterprises by 0.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company’s stock worth $1,186,000 after purchasing an additional 81 shares during the period. Rhumbline Advisers grew its holdings in Hovnanian Enterprises by 1.0% during the fourth quarter. Rhumbline Advisers now owns 8,850 shares of the construction company’s stock worth $1,184,000 after purchasing an additional 85 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Hovnanian Enterprises by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company’s stock worth $378,000 after purchasing an additional 117 shares during the period. Principal Financial Group Inc. grew its holdings in Hovnanian Enterprises by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company’s stock worth $319,000 after purchasing an additional 161 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Hovnanian Enterprises by 4.0% during the fourth quarter. California State Teachers Retirement System now owns 4,724 shares of the construction company’s stock worth $632,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Down 6.5%

NYSE HOV opened at $93.04 on Monday. The business has a fifty day moving average price of $97.07 and a two-hundred day moving average price of $117.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. Hovnanian Enterprises, Inc. has a fifty-two week low of $81.15 and a fifty-two week high of $240.34. The stock has a market capitalization of $551.23 million, a PE ratio of 2.90 and a beta of 2.14.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Tuesday, May 20th. The construction company reported $2.43 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.02). The business had revenue of $686.47 million for the quarter, compared to the consensus estimate of $733.20 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The business’s revenue was down 3.1% compared to the same quarter last year.

Analysts Set New Price Targets

HOV has been the subject of a number of research analyst reports. Wall Street Zen cut Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Wedbush restated a “neutral” rating and set a $120.00 price objective on shares of Hovnanian Enterprises in a report on Wednesday, June 11th.

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.