Range Financial Group LLC Invests $764,000 in Hovnanian Enterprises, Inc. (NYSE:HOV)

Range Financial Group LLC bought a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,708 shares of the construction company’s stock, valued at approximately $764,000. Range Financial Group LLC owned 0.09% of Hovnanian Enterprises at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Hovnanian Enterprises during the third quarter worth $17,449,000. Brightline Capital Management LLC increased its position in Hovnanian Enterprises by 68.8% during the third quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock valued at $16,554,000 after acquiring an additional 33,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Hovnanian Enterprises by 92.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock worth $10,212,000 after purchasing an additional 23,990 shares during the period. Bank of Montreal Can raised its holdings in shares of Hovnanian Enterprises by 72.3% in the second quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock worth $6,438,000 after buying an additional 19,031 shares during the period. Finally, American Century Companies Inc. increased its stake in Hovnanian Enterprises by 16.1% in the second quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock worth $19,008,000 after purchasing an additional 18,622 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Down 0.8 %

Shares of NYSE:HOV traded down $1.04 on Tuesday, reaching $125.98. The company had a trading volume of 108,689 shares, compared to its average volume of 82,797. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $762.81 million, a PE ratio of 3.92 and a beta of 2.70. Hovnanian Enterprises, Inc. has a 52-week low of $124.02 and a 52-week high of $240.34. The firm’s 50 day simple moving average is $164.43 and its 200-day simple moving average is $179.97.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Insider Buying and Selling

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the sale, the director now owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. The trade was a 10.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ara K. Hovnanian sold 644 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $194.99, for a total transaction of $125,573.56. Following the transaction, the chief executive officer now owns 45,635 shares in the company, valued at $8,898,368.65. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. 17.67% of the stock is currently owned by company insiders.

Hovnanian Enterprises Company Profile

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.