Hovnanian Enterprises, Inc. (NYSE:HOV) Stock Position Lowered by Two Sigma Investments LP

Two Sigma Investments LP lowered its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 63.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,711 shares of the construction company’s stock after selling 4,788 shares during the period. Two Sigma Investments LP’s holdings in Hovnanian Enterprises were worth $363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new stake in Hovnanian Enterprises in the fourth quarter worth approximately $25,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Hovnanian Enterprises in the 4th quarter valued at $120,000. Brevan Howard Capital Management LP acquired a new stake in shares of Hovnanian Enterprises in the 4th quarter valued at $204,000. Citadel Advisors LLC acquired a new position in Hovnanian Enterprises during the fourth quarter worth $269,000. Finally, Trexquant Investment LP acquired a new position in Hovnanian Enterprises during the fourth quarter worth $286,000. Institutional investors own 65.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on HOV. Wedbush reissued a “neutral” rating and issued a $120.00 price objective on shares of Hovnanian Enterprises in a research note on Tuesday, May 20th. Wall Street Zen downgraded Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Zelman & Associates reissued an “underperform” rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th.

Hovnanian Enterprises Stock Up 8.3%

HOV stock opened at $106.03 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. The stock has a market capitalization of $628.21 million, a price-to-earnings ratio of 3.30 and a beta of 2.15. The company has a 50-day moving average of $97.01 and a two-hundred day moving average of $119.97. Hovnanian Enterprises, Inc. has a 52-week low of $81.15 and a 52-week high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.43 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.02). Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%. The firm had revenue of $686.47 million during the quarter, compared to analyst estimates of $733.20 million. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis.

Hovnanian Enterprises Profile

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.