Profit Investment Management LLC Invests $2.07 Million in Hovnanian Enterprises, Inc. (NYSE:HOV)

by · The Markets Daily

Profit Investment Management LLC bought a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV – Free Report) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 10,109 shares of the construction company’s stock, valued at approximately $2,066,000. Hovnanian Enterprises comprises approximately 1.6% of Profit Investment Management LLC’s portfolio, making the stock its 25th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in Hovnanian Enterprises in the second quarter valued at approximately $37,000. CWM LLC increased its stake in Hovnanian Enterprises by 3,541.7% during the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after acquiring an additional 425 shares during the period. EntryPoint Capital LLC increased its stake in Hovnanian Enterprises by 309.9% during the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after acquiring an additional 626 shares during the period. International Assets Investment Management LLC bought a new position in Hovnanian Enterprises during the 2nd quarter worth $156,000. Finally, Entropy Technologies LP bought a new position in Hovnanian Enterprises during the 1st quarter worth $205,000. Institutional investors own 65.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

Check Out Our Latest Research Report on HOV

Hovnanian Enterprises Price Performance

Shares of HOV traded up $1.52 during midday trading on Friday, hitting $189.91. The company’s stock had a trading volume of 4,811 shares, compared to its average volume of 80,697. Hovnanian Enterprises, Inc. has a one year low of $65.22 and a one year high of $240.34. The company’s fifty day simple moving average is $201.53 and its two-hundred day simple moving average is $171.75. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 5.87 and a beta of 2.59.

Hovnanian Enterprises (NYSE:HOV – Get Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. The business had revenue of $722.70 million for the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. During the same quarter in the prior year, the firm earned $7.38 EPS. As a group, equities analysts expect that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 123 shares of Hovnanian Enterprises stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $220.13, for a total transaction of $27,075.99. Following the transaction, the chief executive officer now directly owns 47,156 shares of the company’s stock, valued at approximately $10,380,450.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Edward A. Kangas sold 4,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $232.21, for a total value of $928,840.00. Following the transaction, the director now directly owns 14,790 shares of the company’s stock, valued at $3,434,385.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ara K. Hovnanian sold 123 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $220.13, for a total value of $27,075.99. Following the completion of the transaction, the chief executive officer now directly owns 47,156 shares in the company, valued at $10,380,450.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,913 shares of company stock worth $12,415,177 in the last 90 days. Insiders own 17.67% of the company’s stock.

About Hovnanian Enterprises

(Free Report)

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.

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