Hovnanian Enterprises (NYSE:HOV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Hovnanian Enterprises (NYSE:HOV – Get Rating) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the construction company’s stock.

Hovnanian Enterprises Trading Down 1.9 %

Shares of Hovnanian Enterprises stock opened at $63.34 on Thursday. The company has a market capitalization of $380.04 million, a P/E ratio of 2.21 and a beta of 2.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.27 and a current ratio of 1.21. The company has a fifty day moving average of $61.47 and a 200 day moving average of $48.74. Hovnanian Enterprises has a fifty-two week low of $33.20 and a fifty-two week high of $78.20.

Insiders Place Their Bets

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 10,000 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $66.62, for a total value of $666,200.00. Following the sale, the director now owns 36,257 shares in the company, valued at approximately $2,415,441.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 20.31% of the company’s stock.

Institutional Trading of Hovnanian Enterprises

Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new stake in Hovnanian Enterprises in the 4th quarter worth $29,000. FMR LLC lifted its stake in Hovnanian Enterprises by 1,861.5% in the 2nd quarter. FMR LLC now owns 765 shares of the construction company’s stock worth $33,000 after purchasing an additional 726 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Hovnanian Enterprises by 157.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 778 shares of the construction company’s stock worth $28,000 after purchasing an additional 476 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Hovnanian Enterprises by 95.2% during the 3rd quarter. Ensign Peak Advisors Inc now owns 820 shares of the construction company’s stock valued at $29,000 after buying an additional 400 shares in the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Hovnanian Enterprises by 364.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,292 shares of the construction company’s stock valued at $46,000 after buying an additional 1,014 shares in the last quarter. Hedge funds and other institutional investors own 44.59% of the company’s stock.

About Hovnanian Enterprises

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Hovnanian Enterprises, Inc is a homebuilding company, which engages in the design, construction, and marketing of single-family attached town homes, attached townhomes and condominiums, urban infill, and lifestyle homes in planned residential developments. It operates through the following segments: Northeast, Southeast, and West.