Vanguard Group Inc grew its holdings in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 3.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,508,198 shares of the construction company’s stock after purchasing an additional 236,087 shares during the period. Vanguard Group Inc owned approximately 4.39% of Hovnanian Enterprises worth $10,414,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of HOV. Virtu Financial LLC increased its holdings in shares of Hovnanian Enterprises by 560.9% during the third quarter. Virtu Financial LLC now owns 99,371 shares of the construction company’s stock valued at $159,000 after purchasing an additional 84,336 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Hovnanian Enterprises during the third quarter valued at $527,000. Bridgeway Capital Management Inc. increased its holdings in shares of Hovnanian Enterprises by 65.1% during the third quarter. Bridgeway Capital Management Inc. now owns 436,900 shares of the construction company’s stock valued at $699,000 after purchasing an additional 172,200 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Hovnanian Enterprises by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 5,895,184 shares of the construction company’s stock valued at $9,432,000 after purchasing an additional 50,138 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Hovnanian Enterprises by 3.8% during the third quarter. Vanguard Group Inc. now owns 6,508,198 shares of the construction company’s stock valued at $10,414,000 after purchasing an additional 236,087 shares during the period. 35.72% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on HOV shares. JMP Securities raised Hovnanian Enterprises from an “underperform” rating to a “market perform” rating and set a $1.30 price target on the stock in a report on Tuesday, October 9th. ValuEngine lowered Hovnanian Enterprises from a “sell” rating to a “strong sell” rating in a report on Monday. Finally, Buckingham Research assumed coverage on Hovnanian Enterprises in a report on Friday, January 11th. They set a “neutral” rating on the stock.
Shares of HOV stock opened at $0.71 on Wednesday. Hovnanian Enterprises, Inc. has a fifty-two week low of $0.57 and a fifty-two week high of $2.51.
Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Thursday, December 6th. The construction company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10. Hovnanian Enterprises had a negative return on equity of 0.73% and a net margin of 0.23%. The business had revenue of $614.81 million during the quarter, compared to analysts’ expectations of $638.80 million. During the same quarter last year, the business posted $0.08 earnings per share. The company’s quarterly revenue was down 14.8% on a year-over-year basis. As a group, equities research analysts predict that Hovnanian Enterprises, Inc. will post -0.05 earnings per share for the current fiscal year.
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Hovnanian Enterprises Company Profile
Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company builds and markets homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 123 communities in 25 markets.
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