Summit Global Investments purchased a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 7,867 shares of the construction company’s stock, valued at approximately $1,116,000.
Other large investors also recently modified their holdings of the company. CWM LLC grew its stake in Hovnanian Enterprises by 3,541.7% in the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after buying an additional 425 shares in the last quarter. AJOVista LLC purchased a new position in Hovnanian Enterprises in the 4th quarter valued at approximately $97,000. Russell Investments Group Ltd. grew its stake in Hovnanian Enterprises by 27.4% in the 4th quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock valued at $123,000 after buying an additional 170 shares in the last quarter. EntryPoint Capital LLC grew its stake in Hovnanian Enterprises by 309.9% in the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after buying an additional 626 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Hovnanian Enterprises in the 4th quarter valued at approximately $200,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.
Insiders Place Their Bets
In other Hovnanian Enterprises news, Director Robin Stone Sellers sold 1,459 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $154.20, for a total value of $224,977.80. Following the completion of the sale, the director now directly owns 22,716 shares of the company’s stock, valued at $3,502,807.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hovnanian Enterprises news, Director Robin Stone Sellers sold 1,459 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $154.20, for a total value of $224,977.80. Following the transaction, the director now owns 22,716 shares in the company, valued at $3,502,807.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ara K. Hovnanian sold 4,548 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $146.66, for a total transaction of $667,009.68. Following the completion of the transaction, the chief executive officer now owns 60,982 shares in the company, valued at approximately $8,943,620.12. The disclosure for this sale can be found here. Insiders sold 47,816 shares of company stock valued at $6,966,617 over the last three months. Insiders own 17.67% of the company’s stock.
Hovnanian Enterprises Price Performance
Hovnanian Enterprises (NYSE:HOV – Get Free Report) last posted its quarterly earnings results on Wednesday, May 22nd. The construction company reported $6.66 earnings per share for the quarter. The business had revenue of $708.38 million during the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. Sell-side analysts forecast that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
HOV has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Zelman & Associates upgraded shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price target for the company in a research report on Thursday, May 23rd.
Read Our Latest Stock Analysis on HOV
About Hovnanian Enterprises
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.
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