Brevan Howard Capital Management LP Makes New $204,000 Investment in Hovnanian Enterprises, Inc. (NYSE:HOV)

Brevan Howard Capital Management LP acquired a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,522 shares of the construction company’s stock, valued at approximately $204,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Hovnanian Enterprises by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company’s stock worth $1,186,000 after acquiring an additional 81 shares in the last quarter. Rhumbline Advisers grew its holdings in Hovnanian Enterprises by 1.0% during the 4th quarter. Rhumbline Advisers now owns 8,850 shares of the construction company’s stock worth $1,184,000 after acquiring an additional 85 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Hovnanian Enterprises by 7.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company’s stock valued at $319,000 after buying an additional 161 shares during the period. Quantbot Technologies LP acquired a new position in shares of Hovnanian Enterprises in the 4th quarter valued at about $25,000. Finally, Peapack Gladstone Financial Corp boosted its holdings in shares of Hovnanian Enterprises by 1.9% in the 4th quarter. Peapack Gladstone Financial Corp now owns 10,863 shares of the construction company’s stock valued at $1,454,000 after buying an additional 201 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on HOV. StockNews.com lowered shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th. Zelman & Associates reaffirmed an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th.

Hovnanian Enterprises Trading Up 6.2%

NYSE HOV opened at $107.79 on Tuesday. Hovnanian Enterprises, Inc. has a one year low of $81.15 and a one year high of $240.34. The company has a 50-day simple moving average of $100.86 and a 200-day simple moving average of $131.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The firm has a market capitalization of $638.66 million, a PE ratio of 3.36 and a beta of 2.28.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, beating the consensus estimate of $2.71 by $0.87. The business had revenue of $673.62 million during the quarter, compared to analyst estimates of $705.80 million. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%.

About Hovnanian Enterprises

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.