Arizona State Retirement System Acquires Shares of 1,345 Hovnanian Enterprises, Inc. (NYSE:HOV)

Arizona State Retirement System acquired a new stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,345 shares of the construction company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently bought and sold shares of the company. Denali Advisors LLC purchased a new stake in Hovnanian Enterprises during the fourth quarter valued at about $903,000. Assenagon Asset Management S.A. lifted its position in shares of Hovnanian Enterprises by 1.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 66,182 shares of the construction company’s stock worth $10,299,000 after purchasing an additional 789 shares in the last quarter. Wealthstar Advisors LLC purchased a new stake in shares of Hovnanian Enterprises in the fourth quarter worth approximately $926,000. SG Americas Securities LLC lifted its position in shares of Hovnanian Enterprises by 588.9% in the fourth quarter. SG Americas Securities LLC now owns 14,873 shares of the construction company’s stock worth $2,315,000 after purchasing an additional 12,714 shares in the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC purchased a new stake in shares of Hovnanian Enterprises in the fourth quarter worth approximately $214,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $157.82, for a total transaction of $157,820.00. Following the transaction, the chief executive officer now owns 51,475 shares in the company, valued at $8,123,784.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 17.67% of the company’s stock.

Hovnanian Enterprises Price Performance

Shares of HOV opened at $130.26 on Monday. The firm has a market cap of $794.59 million, a PE ratio of 4.68 and a beta of 2.61. The firm’s 50 day moving average price is $148.65 and its 200 day moving average price is $130.22. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.86 and a current ratio of 4.07. Hovnanian Enterprises, Inc. has a twelve month low of $65.22 and a twelve month high of $183.60.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.75 earnings per share for the quarter. The firm had revenue of $594.20 million for the quarter. Hovnanian Enterprises had a net margin of 7.45% and a return on equity of 58.22%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HOV. StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, March 3rd. Zelman & Associates reissued an “underperform” rating on shares of Hovnanian Enterprises in a research report on Friday, April 12th. Finally, TheStreet raised shares of Hovnanian Enterprises from a “c+” rating to a “b-” rating in a research report on Friday, February 16th.

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.