8,910 Shares in Hovnanian Enterprises Inc $HOV Purchased by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC acquired a new stake in Hovnanian Enterprises Inc (NYSE:HOV) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,910 shares of the construction company’s stock, valued at approximately $1,145,000. Cadent Capital Advisors LLC owned 0.15% of Hovnanian Enterprises at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Hovnanian Enterprises by 20.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 55,067 shares of the construction company’s stock valued at $5,766,000 after acquiring an additional 9,445 shares during the period. Nuveen LLC purchased a new position in shares of Hovnanian Enterprises during the 1st quarter worth approximately $1,605,000. Russell Investments Group Ltd. increased its holdings in Hovnanian Enterprises by 2,009.9% in the 1st quarter. Russell Investments Group Ltd. now owns 1,920 shares of the construction company’s stock valued at $201,000 after purchasing an additional 1,829 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in Hovnanian Enterprises in the 1st quarter valued at approximately $1,373,000. Finally, Steamboat Capital Partners LLC purchased a new stake in Hovnanian Enterprises in the first quarter valued at approximately $1,286,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HOV shares. Zacks Research upgraded Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Wednesday, October 8th. Wedbush reaffirmed a “neutral” rating and issued a $120.00 target price on shares of Hovnanian Enterprises in a research report on Wednesday, August 27th. Finally, Wall Street Zen raised shares of Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $120.00.

Hovnanian Enterprises Trading Up 3.1%

HOV opened at $101.07 on Thursday. Hovnanian Enterprises Inc has a 12 month low of $81.15 and a 12 month high of $162.05. The stock has a market capitalization of $595.30 million, a price-to-earnings ratio of 13.49 and a beta of 2.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 0.36. The business has a fifty day moving average price of $118.19 and a 200 day moving average price of $123.49.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Thursday, December 4th. The construction company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($1.14). Hovnanian Enterprises had a net margin of 2.14% and a return on equity of 15.33%. The company had revenue of $817.90 million during the quarter, compared to analyst estimates of $814.50 million. During the same period in the prior year, the business earned $13.84 EPS. Hovnanian Enterprises’s revenue for the quarter was down 16.5% on a year-over-year basis.

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.