An issue of Hovnanian Enterprises, Inc. (NYSE:HOV) debt rose 2% as a percentage of its face value during trading on Wednesday. The high-yield debt issue has a 10% coupon and will mature on July 15, 2022. The bonds in the issue are now trading at $85.00 and were trading at $81.75 one week ago. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.

A number of analysts have recently weighed in on HOV shares. Buckingham Research started coverage on shares of Hovnanian Enterprises in a report on Friday, January 11th. They issued a “neutral” rating on the stock. ValuEngine upgraded shares of Hovnanian Enterprises from a “strong sell” rating to a “sell” rating in a report on Friday, December 7th.

NYSE:HOV traded down $0.04 during mid-day trading on Wednesday, hitting $0.53. 1,655,100 shares of the stock traded hands, compared to its average volume of 1,229,215. The company has a market capitalization of $86.08 million, a price-to-earnings ratio of 17.67 and a beta of 1.91. Hovnanian Enterprises, Inc. has a 52 week low of $0.52 and a 52 week high of $2.09.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Thursday, March 7th. The construction company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $380.59 million for the quarter. Hovnanian Enterprises had a net margin of 0.91% and a negative return on equity of 2.90%. As a group, analysts predict that Hovnanian Enterprises, Inc. will post -0.03 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Wedbush Securities Inc. bought a new position in Hovnanian Enterprises during the 4th quarter valued at about $26,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hovnanian Enterprises in the 4th quarter valued at about $30,000. Virtu Financial LLC boosted its position in Hovnanian Enterprises by 560.9% in the 3rd quarter. Virtu Financial LLC now owns 99,371 shares of the construction company’s stock valued at $159,000 after buying an additional 84,336 shares during the period. Acadian Asset Management LLC purchased a new stake in Hovnanian Enterprises in the 4th quarter valued at about $91,000. Finally, D. E. Shaw & Co. Inc. boosted its position in Hovnanian Enterprises by 850.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 165,457 shares of the construction company’s stock valued at $113,000 after buying an additional 148,057 shares during the period. Institutional investors own 31.73% of the company’s stock.

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About Hovnanian Enterprises (NYSE:HOV)

Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company builds and markets homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 123 communities in 25 markets.

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