Pacer Advisors Inc. Purchases Shares of 34,710 Hovnanian Enterprises Inc $HOV

Pacer Advisors Inc. acquired a new position in shares of Hovnanian Enterprises Inc (NYSE:HOV) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 34,710 shares of the construction company’s stock, valued at approximately $4,460,000.

Several other hedge funds have also modified their holdings of the stock. Osaic Holdings Inc. increased its position in Hovnanian Enterprises by 72.1% during the second quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock worth $45,000 after purchasing an additional 181 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Hovnanian Enterprises by 614.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock valued at $58,000 after buying an additional 479 shares during the period. GAMMA Investing LLC raised its position in shares of Hovnanian Enterprises by 553.9% in the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $104,000 after buying an additional 842 shares during the period. AlphaQuest LLC raised its position in shares of Hovnanian Enterprises by 10,727.3% in the 2nd quarter. AlphaQuest LLC now owns 1,191 shares of the construction company’s stock worth $125,000 after buying an additional 1,180 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in Hovnanian Enterprises by 23.7% in the second quarter. Harbor Capital Advisors Inc. now owns 1,259 shares of the construction company’s stock valued at $132,000 after acquiring an additional 241 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV opened at $99.54 on Tuesday. The business’s 50-day simple moving average is $116.64 and its 200 day simple moving average is $123.66. The company has a market cap of $592.23 million, a P/E ratio of 13.29 and a beta of 2.10. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.40 and a current ratio of 1.58. Hovnanian Enterprises Inc has a one year low of $81.15 and a one year high of $162.05.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Thursday, December 4th. The construction company reported ($0.51) earnings per share (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 firm had revenue of $817.90 million during the quarter, compared to analyst estimates of $814.50 million. During the same period last year, the business earned $13.84 EPS. The firm’s revenue was down 16.5% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HOV shares. Zacks Research upgraded Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Hovnanian Enterprises currently has a consensus rating of “Reduce” and a consensus target price of $120.00.

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.