Short Interest in Hovnanian Enterprises, Inc. (NYSE:HOV) Expands By 12.1%

Hovnanian Enterprises, Inc. (NYSE:HOV) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 217,000 shares, an increase of 12.1% from the December 31st total of 193,500 shares. Based on an average trading volume of 80,900 shares, the days-to-cover ratio is presently 2.7 days. Currently, 5.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Forager Capital Management LLC boosted its stake in Hovnanian Enterprises by 3.5% in the third quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company’s stock valued at $23,911,000 after acquiring an additional 4,000 shares during the last quarter. Geode Capital Management LLC increased its stake in Hovnanian Enterprises by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company’s stock valued at $22,882,000 after buying an additional 322 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Hovnanian Enterprises in the 3rd quarter valued at about $17,449,000. Brightline Capital Management LLC grew its position in shares of Hovnanian Enterprises by 68.8% in the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock valued at $16,554,000 after acquiring an additional 33,000 shares during the period. Finally, Foundry Partners LLC boosted its holdings in shares of Hovnanian Enterprises by 53.3% during the 3rd quarter. Foundry Partners LLC now owns 52,809 shares of the construction company’s stock worth $10,793,000 after buying an additional 18,372 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Down 3.1 %

NYSE:HOV traded down $4.12 during trading hours on Monday, hitting $128.28. 61,703 shares of the stock traded hands, compared to its average volume of 72,895. The firm has a 50 day moving average price of $146.81 and a 200 day moving average price of $177.70. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. Hovnanian Enterprises has a fifty-two week low of $115.90 and a fifty-two week high of $240.34. The firm has a market cap of $777.35 million, a price-to-earnings ratio of 3.99 and a beta of 2.71.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Thursday, December 5th. The construction company reported $12.79 EPS for the quarter. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a “neutral” rating and issued a $155.00 price objective on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Company 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.