Union Square Park Capital Management LLC Invests $555,000 in Hovnanian Enterprises Inc $HOV

Union Square Park Capital Management LLC acquired a new position in shares of Hovnanian Enterprises Inc (NYSE:HOV) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,000 shares of the construction company’s stock, valued at approximately $555,000. Union Square Park Capital Management LLC owned about 0.08% of Hovnanian Enterprises at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Hovnanian Enterprises by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,979 shares of the construction company’s stock worth $312,000 after buying an additional 156 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Hovnanian Enterprises by 436.3% in the first quarter. Jane Street Group LLC now owns 9,106 shares of the construction company’s stock valued at $953,000 after acquiring an additional 7,408 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Hovnanian Enterprises in the second quarter valued at $506,000. Legal & General Group Plc boosted its stake in shares of Hovnanian Enterprises by 6.9% during the second quarter. Legal & General Group Plc now owns 5,239 shares of the construction company’s stock valued at $548,000 after acquiring an additional 337 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Hovnanian Enterprises by 26.1% during the second quarter. Russell Investments Group Ltd. now owns 2,422 shares of the construction company’s stock valued at $253,000 after acquiring an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV opened at $134.20 on Friday. The business has a 50-day moving average of $122.67 and a two-hundred day moving average of $117.67. The firm has a market capitalization of $786.42 million, a PE ratio of 36.87 and a beta of 1.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.50 and a quick ratio of 0.40. Hovnanian Enterprises Inc has a 12 month low of $91.52 and a 12 month high of $162.05.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, May 21st. The construction company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($2.04) by $1.58. Hovnanian Enterprises had a return on equity of 11.23% and a net margin of 1.25%.The business had revenue of $667.65 million for the quarter, compared to analyst estimates of $626.40 million.

Insider Activity at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 12,880 shares of Hovnanian Enterprises stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $125.78, for a total transaction of $1,620,046.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director J Larry Sorsby sold 1,032 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $142.57, for a total transaction of $147,132.24. Following the sale, the director owned 187,416 shares of the company’s stock, valued at approximately $26,719,899.12. This represents a 0.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 22.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings raised shares of Hovnanian Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 16th. Citizens Jmp initiated coverage on shares of Hovnanian Enterprises in a research note on Thursday, April 9th. They set a “market underperform” rating and a $74.00 price target on the stock. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $97.00.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.