Allianz Asset Management GmbH Buys 4,906 Shares of Hovnanian Enterprises Inc $HOV

Allianz Asset Management GmbH increased its position in Hovnanian Enterprises Inc (NYSE:HOV) by 82.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,844 shares of the construction company’s stock after acquiring an additional 4,906 shares during the quarter. Allianz Asset Management GmbH owned about 0.18% of Hovnanian Enterprises worth $1,393,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in shares of Hovnanian Enterprises in the third quarter worth $35,000. Osaic Holdings Inc. lifted its stake in shares of Hovnanian Enterprises by 72.1% during the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock valued at $45,000 after buying an additional 181 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Hovnanian Enterprises by 614.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock worth $58,000 after buying an additional 479 shares during the period. AlphaQuest LLC increased its stake in Hovnanian Enterprises by 10,727.3% in the 2nd quarter. AlphaQuest LLC now owns 1,191 shares of the construction company’s stock worth $125,000 after buying an additional 1,180 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Hovnanian Enterprises by 9.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,091 shares of the construction company’s stock worth $140,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HOV shares. Zacks Research raised Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Wall Street Zen cut Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $120.00.

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV opened at $129.77 on Friday. Hovnanian Enterprises Inc has a 52 week low of $81.15 and a 52 week high of $162.05. The stock has a market capitalization of $772.52 million, a P/E ratio of 17.33 and a beta of 2.31. The firm has a fifty day simple moving average of $111.90 and a two-hundred day simple moving average of $125.10. The company has a quick ratio of 0.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.04.

Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Thursday, December 4th. The construction company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($1.14). Hovnanian Enterprises had a net margin of 2.14% and a return on equity of 15.33%. The business had revenue of $817.90 million for the quarter, compared to analysts’ expectations of $814.50 million. During the same quarter in the prior year, the company posted $13.84 earnings per share. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.