Hovnanian Enterprises Inc (NYSE:HOV) issued its quarterly earnings results on Thursday. The construction company reported ($2.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $2.27, MarketWatch Earnings reports. Hovnanian Enterprises had a negative return on equity of 8.20% and a net margin of 0.56%.

Hovnanian Enterprises (NYSE:HOV) traded down 8.333% during trading on Thursday, reaching $1.705. The company had a trading volume of 2,363,697 shares. The stock has a market capitalization of $251.26 million, a P/E ratio of 17.050 and a beta of 1.66. The stock has a 50 day moving average of $2.14 and a 200-day moving average of $2.32. Hovnanian Enterprises has a 12-month low of $1.52 and a 12-month high of $2.98.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Hovnanian Enterprises by 6.0% in the second quarter. The Manufacturers Life Insurance Company now owns 105,246 shares of the construction company’s stock valued at $294,000 after acquiring an additional 5,912 shares during the period. State Street Corp lifted its position in Hovnanian Enterprises by 8.4% in the second quarter. State Street Corp now owns 2,294,919 shares of the construction company’s stock worth $6,428,000 after purchasing an additional 177,582 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its position in Hovnanian Enterprises by 53.7% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 856,132 shares of the construction company’s stock worth $2,396,000 after purchasing an additional 299,200 shares during the period. Stifel Financial Corp lifted its position in Hovnanian Enterprises by 5.5% in the second quarter. Stifel Financial Corp now owns 38,050 shares of the construction company’s stock worth $107,000 after purchasing an additional 1,975 shares during the period. Finally, Voya Investment Management LLC lifted its position in Hovnanian Enterprises by 15.5% in the second quarter. Voya Investment Management LLC now owns 71,713 shares of the construction company’s stock worth $201,000 after purchasing an additional 9,650 shares during the period. 31.04% of the stock is owned by institutional investors.

A number of brokerages have recently commented on HOV. MKM Partners reissued a “neutral” rating on shares of Hovnanian Enterprises in a research report on Tuesday. BidaskClub cut Hovnanian Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th.

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.

Earnings History for Hovnanian Enterprises (NYSE:HOV)

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