Sanctuary Advisors LLC Sells 537 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Sanctuary Advisors LLC decreased its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 17.0% during the fourth quarter, HoldingsChannel reports. The fund owned 2,629 shares of the construction company’s stock after selling 537 shares during the quarter. Sanctuary Advisors LLC’s holdings in Hovnanian Enterprises were worth $364,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Hovnanian Enterprises in the third quarter worth about $33,000. FMR LLC grew its holdings in shares of Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after purchasing an additional 59 shares during the last quarter. Creative Planning bought a new position in shares of Hovnanian Enterprises in the third quarter worth about $202,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Hovnanian Enterprises in the third quarter worth about $205,000. Finally, Olympiad Research LP bought a new position in shares of Hovnanian Enterprises in the third quarter worth about $225,000. Institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Trading Down 4.0 %

NYSE HOV opened at $97.69 on Tuesday. 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 company has a market capitalization of $591.53 million, a price-to-earnings ratio of 3.04 and a beta of 2.71. The company’s 50-day simple moving average is $128.78 and its two-hundred day simple moving average is $168.07. Hovnanian Enterprises, Inc. has a one year low of $97.28 and a one year high of $240.34.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. Wedbush restated a “neutral” rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a report on Monday, December 16th.

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.