Denali Advisors LLC Has $1.71 Million Stock Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Denali Advisors LLC lifted its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 88.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,906 shares of the construction company’s stock after purchasing an additional 5,106 shares during the quarter. Denali Advisors LLC’s holdings in Hovnanian Enterprises were worth $1,712,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of HOV. Range Financial Group LLC acquired a new stake in Hovnanian Enterprises in the first quarter valued at about $703,000. CWM LLC boosted its stake in Hovnanian Enterprises by 3,541.7% in the first quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after buying an additional 425 shares in the last quarter. Virtu Financial LLC bought a new position in Hovnanian Enterprises in the fourth quarter valued at about $737,000. Caxton Associates LP raised its position in Hovnanian Enterprises by 18.9% in the fourth quarter. Caxton Associates LP now owns 15,388 shares of the construction company’s stock valued at $2,395,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Trexquant Investment LP raised its position in Hovnanian Enterprises by 40.2% in the fourth quarter. Trexquant Investment LP now owns 6,160 shares of the construction company’s stock valued at $959,000 after purchasing an additional 1,765 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HOV shares. Zelman & Associates upgraded Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price objective for the company in a research report on Thursday, May 23rd. StockNews.com upgraded Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd.

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV traded up $1.41 during midday trading on Wednesday, reaching $138.26. 63,951 shares of the company traded hands, compared to its average volume of 80,796. The company has a quick ratio of 0.32, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Hovnanian Enterprises, Inc. has a 12 month low of $65.22 and a 12 month high of $184.42. The firm has a market capitalization of $828.18 million, a price-to-earnings ratio of 4.61 and a beta of 2.58. The firm’s fifty day moving average price is $151.97 and its two-hundred day moving average price is $152.27.

Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Wednesday, May 22nd. The construction company reported $6.66 EPS for the quarter. Hovnanian Enterprises had a return on equity of 54.85% and a net margin of 8.02%. The business had revenue of $708.38 million during the quarter. On average, equities analysts expect that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current year.

Insider Transactions at Hovnanian Enterprises

In other news, Director Robin Stone Sellers sold 1,459 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $154.20, for a total value of $224,977.80. Following the completion of the transaction, the director now directly owns 22,716 shares in the company, valued at approximately $3,502,807.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robin Stone Sellers sold 1,459 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $154.20, for a total transaction of $224,977.80. Following the completion of the sale, the director now directly owns 22,716 shares in the company, valued at approximately $3,502,807.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward A. Kangas sold 2,000 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $144.72, for a total value of $289,440.00. Following the completion of the transaction, the director now directly owns 21,743 shares of the company’s stock, valued at approximately $3,146,646.96. The disclosure for this sale can be found here. In the last three months, insiders sold 33,816 shares of company stock worth $4,820,417. 17.67% of the stock is currently owned by corporate insiders.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.