Forager Capital Management LLC Acquires 4,000 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Forager Capital Management LLC raised its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,000 shares of the construction company’s stock after purchasing an additional 4,000 shares during the period. Hovnanian Enterprises accounts for about 9.4% of Forager Capital Management LLC’s holdings, making the stock its 4th biggest position. Forager Capital Management LLC’s holdings in Hovnanian Enterprises were worth $23,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new position in Hovnanian Enterprises during the 3rd quarter worth $33,000. Innealta Capital LLC acquired a new position in Hovnanian Enterprises in the 2nd quarter valued at $37,000. FMR LLC raised its position in Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after buying an additional 59 shares during the last quarter. CWM LLC lifted its stake in shares of Hovnanian Enterprises by 89.6% in the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after acquiring an additional 354 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Hovnanian Enterprises in the second quarter valued at about $156,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ara K. Hovnanian sold 13,552 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $215.14, for a total value of $2,915,577.28. Following the sale, the chief executive officer now directly owns 47,279 shares in the company, valued at $10,171,604.06. The trade was a 22.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the sale, the director now owns 13,290 shares in the company, valued at $2,509,949.40. This represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,289 shares of company stock worth $5,158,796. 17.67% of the stock is owned by company insiders.

Hovnanian Enterprises Stock Down 1.3 %

Hovnanian Enterprises stock opened at $167.50 on Wednesday. The stock’s 50 day moving average price is $184.39 and its 200 day moving average price is $181.20. The company has a market cap of $1.01 billion, a PE ratio of 5.22 and a beta of 2.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. Hovnanian Enterprises, Inc. has a 1-year low of $125.63 and a 1-year high of $240.34.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

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.