7,867 Shares in Hovnanian Enterprises, Inc. (NYSE:HOV) Purchased by Summit Global Investments

Summit Global Investments purchased a new stake in Hovnanian Enterprises, Inc. (NYSE:HOV) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,867 shares of the construction company’s stock, valued at approximately $1,116,000. Summit Global Investments owned approximately 0.13% of Hovnanian Enterprises as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. CWM LLC boosted 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 worth $69,000 after purchasing an additional 425 shares in the last quarter. AJOVista LLC acquired a new stake in Hovnanian Enterprises in the 4th quarter worth approximately $97,000. Russell Investments Group Ltd. boosted 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 worth $123,000 after purchasing an additional 170 shares in the last quarter. EntryPoint Capital LLC raised its position in Hovnanian Enterprises by 309.9% during the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after buying an additional 626 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Hovnanian Enterprises during the 4th quarter worth approximately $200,000. 65.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on HOV. 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 raised 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.

Insiders Place Their Bets

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 2,000 shares of Hovnanian Enterprises stock in a transaction on Friday, May 31st. The shares were sold at an average price of $144.72, for a total transaction of $289,440.00. Following the sale, the director now owns 21,743 shares of the company’s stock, valued at approximately $3,146,646.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 transaction of $224,977.80. Following the transaction, the director now owns 22,716 shares of the company’s stock, valued at approximately $3,502,807.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Edward A. Kangas sold 2,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $144.72, for a total transaction of $289,440.00. Following the completion of the sale, the director now owns 21,743 shares in the company, valued at $3,146,646.96. The disclosure for this sale can be found here. Insiders have sold a total of 47,816 shares of company stock valued at $6,966,617 in the last 90 days. 17.67% of the stock is owned by insiders.

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV traded up $1.99 during trading on Tuesday, hitting $198.71. 66,419 shares of the stock traded hands, compared to its average volume of 80,823. The company has a quick ratio of 0.32, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 6.62 and a beta of 2.58. The company has a fifty day moving average price of $168.58 and a two-hundred day moving average price of $157.60. Hovnanian Enterprises, Inc. has a 52-week low of $65.22 and a 52-week high of $224.52.

Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Wednesday, May 22nd. The construction company reported $6.66 earnings per share for the quarter. The firm 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%. As a group, equities analysts predict that Hovnanian Enterprises, Inc. will post 27 EPS for the current year.

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.