Allianz Asset Management GmbH Buys 4,906 Shares of Hovnanian Enterprises Inc $HOV

Allianz Asset Management GmbH boosted its position in shares of Hovnanian Enterprises Inc (NYSE:HOV) by 82.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,844 shares of the construction company’s stock after buying an additional 4,906 shares during the quarter. Allianz Asset Management GmbH’s holdings in Hovnanian Enterprises were worth $1,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in shares of Hovnanian Enterprises in the third quarter valued at $35,000. Osaic Holdings Inc. grew its holdings in Hovnanian Enterprises by 72.1% during the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock valued at $45,000 after purchasing an additional 181 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Hovnanian Enterprises by 614.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock worth $58,000 after purchasing an additional 479 shares during the period. GAMMA Investing LLC raised its position in Hovnanian Enterprises by 9.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,091 shares of the construction company’s stock worth $140,000 after purchasing an additional 97 shares during the period. Finally, AlphaQuest LLC lifted its stake in Hovnanian Enterprises by 10,727.3% in the second quarter. AlphaQuest LLC now owns 1,191 shares of the construction company’s stock worth $125,000 after purchasing an additional 1,180 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Up 4.0%

NYSE:HOV opened at $129.77 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 0.40. Hovnanian Enterprises Inc has a 1-year low of $81.15 and a 1-year high of $162.05. The company has a 50-day moving average of $111.90 and a 200 day moving average of $125.10. The firm has a market cap of $772.52 million, a PE ratio of 17.33 and a beta of 2.31.

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

Wall Street Analysts Forecast Growth

HOV has been the topic of a number of analyst reports. Wall Street Zen cut Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Weiss Ratings restated a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Thursday, January 22nd. Finally, Zacks Research raised Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $120.00.

Hovnanian Enterprises Company Profile

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.