Hovnanian Enterprises, Inc. (NYSE:HOV) was up 5.7% during mid-day trading on Monday . The stock traded as high as $2.62 and last traded at $2.61. Approximately 1,629,773 shares were traded during trading, an increase of 17% from the average daily volume of 1,390,609 shares. The stock had previously closed at $2.47.
Several equities research analysts have issued reports on HOV shares. TheStreet cut shares of Hovnanian Enterprises from a “c-” rating to a “d” rating in a research note on Thursday, September 7th. MKM Partners reissued a “neutral” rating on shares of Hovnanian Enterprises in a research report on Tuesday, September 5th.
The company has a debt-to-equity ratio of -0.30, a quick ratio of 0.24 and a current ratio of 0.82. The stock has a market cap of $364.55, a PE ratio of 16.47 and a beta of 1.98.
Several hedge funds have recently made changes to their positions in HOV. Stifel Financial Corp boosted its position in shares of Hovnanian Enterprises by 5.5% during the 2nd quarter. Stifel Financial Corp now owns 38,050 shares of the construction company’s stock valued at $107,000 after acquiring an additional 1,975 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of Hovnanian Enterprises during the 2nd quarter valued at about $115,000. First Trust Advisors LP acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at about $191,000. Voya Investment Management LLC boosted its position in shares of Hovnanian Enterprises by 15.5% during the 2nd quarter. Voya Investment Management LLC now owns 71,713 shares of the construction company’s stock valued at $201,000 after acquiring an additional 9,650 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Hovnanian Enterprises by 12.0% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 89,415 shares of the construction company’s stock valued at $203,000 after acquiring an additional 9,560 shares during the last quarter. 32.14% of the stock is currently owned by hedge funds and other institutional investors.
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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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