An issue of Hovnanian Enterprises Inc (NYSE:HOV) bonds fell 0.6% against their face value during trading on Monday. The high-yield debt issue has a 10% coupon and will mature on July 15, 2022. The debt is now trading at $108.25 and was trading at $108.38 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.

A number of equities research analysts recently weighed in on the company. TheStreet lowered Hovnanian Enterprises from a “c-” rating to a “d” rating in a research report on Thursday, September 7th. MKM Partners reaffirmed a “neutral” rating on shares of Hovnanian Enterprises in a report on Tuesday, September 5th.

Shares of Hovnanian Enterprises Inc (NYSE:HOV) traded down $0.11 on Monday, reaching $2.71. The company’s stock had a trading volume of 1,660,025 shares, compared to its average volume of 1,367,367. The firm has a market cap of $416.21, a P/E ratio of 18.80 and a beta of 1.98. Hovnanian Enterprises Inc has a 52-week low of $1.66 and a 52-week high of $2.98. The company has a debt-to-equity ratio of -0.30, a current ratio of 0.82 and a quick ratio of 0.24.

Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Thursday, September 7th. The construction company reported ($2.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($2.27). The company had revenue of $592.00 million for the quarter, compared to analyst estimates of $584.50 million. Hovnanian Enterprises had a negative return on equity of 7.10% and a negative net margin of 12.69%. The firm’s revenue was down 17.4% on a year-over-year basis.

A number of institutional investors and hedge funds have recently made changes to their positions in HOV. UBS Asset Management Americas Inc. lifted its holdings in Hovnanian Enterprises by 83.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 59,193 shares of the construction company’s stock worth $134,000 after buying an additional 26,897 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in Hovnanian Enterprises by 67.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 566,031 shares of the construction company’s stock worth $1,285,000 after buying an additional 228,838 shares during the period. Vanguard Group Inc. lifted its holdings in Hovnanian Enterprises by 21.4% during the 1st quarter. Vanguard Group Inc. now owns 5,399,420 shares of the construction company’s stock worth $12,257,000 after buying an additional 953,607 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Hovnanian Enterprises by 10.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 627,804 shares of the construction company’s stock worth $1,425,000 after buying an additional 59,100 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Hovnanian Enterprises by 29.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 482,080 shares of the construction company’s stock worth $1,095,000 after buying an additional 108,506 shares during the period. 32.14% of the stock is currently owned by hedge funds and other institutional investors.

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About Hovnanian Enterprises

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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