Creative Planning Purchases 35,966 Shares of Hovnanian Enterprises Inc (HOV)
Creative Planning boosted its position in shares of Hovnanian Enterprises Inc (NYSE:HOV) by 611.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,850 shares of the construction company’s stock after buying an additional 35,966 shares during the period. Creative Planning’s holdings in Hovnanian Enterprises were worth $117,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nationwide Fund Advisors increased its position in shares of Hovnanian Enterprises by 2.4% in the first quarter. Nationwide Fund Advisors now owns 75,273 shares of the construction company’s stock worth $171,000 after buying an additional 1,730 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Hovnanian Enterprises by 5.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 79,855 shares of the construction company’s stock worth $218,000 after buying an additional 3,830 shares during the period. American International Group Inc. increased its position in shares of Hovnanian Enterprises by 7.1% in the first quarter. American International Group Inc. now owns 75,060 shares of the construction company’s stock worth $170,000 after buying an additional 4,972 shares during the period. Brandes Investment Partners LP increased its position in shares of Hovnanian Enterprises by 20.2% in the first quarter. Brandes Investment Partners LP now owns 56,630 shares of the construction company’s stock worth $129,000 after buying an additional 9,520 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of Hovnanian Enterprises by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 203,251 shares of the construction company’s stock worth $555,000 after buying an additional 9,921 shares during the period. Hedge funds and other institutional investors own 29.81% of the company’s stock.
Shares of Hovnanian Enterprises Inc (NYSE:HOV) traded up 0.46% during mid-day trading on Wednesday, hitting $2.20. The company’s stock had a trading volume of 216,614 shares. The stock has a market cap of $324.21 million, a PE ratio of 22.00 and a beta of 1.69. The company has a 50-day moving average price of $2.47 and a 200-day moving average price of $2.36. Hovnanian Enterprises Inc has a 1-year low of $1.52 and a 1-year high of $2.98.
Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Friday, June 2nd. The construction company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The company had revenue of $585.90 million during the quarter, compared to the consensus estimate of $558.55 million. Hovnanian Enterprises had a net margin of 0.56% and a negative return on equity of 8.20%. Hovnanian Enterprises’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. Analysts predict that Hovnanian Enterprises Inc will post $0.05 EPS for the current fiscal year.
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Separately, BidaskClub downgraded Hovnanian Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th.
Hovnanian Enterprises Company Profile
Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.
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