Hovnanian Enterprises Inc (HOV) Position Lifted by Federated Investors Inc. PA

Federated Investors Inc. PA increased its position in Hovnanian Enterprises Inc (NYSE:HOV) by 7,889.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,031 shares of the construction company’s stock after acquiring an additional 270,601 shares during the quarter. Federated Investors Inc. PA owned about 0.19% of Hovnanian Enterprises worth $767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Eqis Capital Management Inc. raised its holdings in Hovnanian Enterprises by 2.6% in the 2nd quarter. Eqis Capital Management Inc. now owns 38,676 shares of the construction company’s stock worth $108,000 after acquiring an additional 969 shares during the period. Creative Planning raised its holdings in Hovnanian Enterprises by 611.3% in the 2nd quarter. Creative Planning now owns 41,850 shares of the construction company’s stock worth $117,000 after acquiring an additional 35,966 shares during the period. Brandes Investment Partners LP raised its holdings in Hovnanian Enterprises by 20.2% in the 1st quarter. Brandes Investment Partners LP now owns 56,630 shares of the construction company’s stock worth $129,000 after acquiring an additional 9,520 shares during the period. UBS Asset Management Americas Inc. raised its holdings in Hovnanian Enterprises by 83.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 59,193 shares of the construction company’s stock worth $134,000 after acquiring an additional 26,897 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Hovnanian Enterprises by 346.1% in the 1st quarter. SG Americas Securities LLC now owns 60,473 shares of the construction company’s stock worth $137,000 after acquiring an additional 46,917 shares during the period. Hedge funds and other institutional investors own 31.04% of the company’s stock.

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Hovnanian Enterprises Inc (NYSE HOV) opened at 1.72 on Tuesday. Hovnanian Enterprises Inc has a 12-month low of $1.52 and a 12-month high of $2.98. The stock’s 50 day moving average is $1.99 and its 200 day moving average is $2.28. The company’s market cap is $253.86 million.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Thursday, September 7th. The construction company reported ($2.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($2.27). The firm had revenue of $592.00 million during the quarter, compared to analyst estimates of $584.50 million. Hovnanian Enterprises had a negative net margin of 12.69% and a negative return on equity of 7.10%. The company’s quarterly revenue was down 17.4% compared to the same quarter last year. On average, equities analysts forecast that Hovnanian Enterprises Inc will post ($0.05) earnings per share for the current year.

Several brokerages recently commented on HOV. BidaskClub downgraded shares of Hovnanian Enterprises from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. MKM Partners reiterated a “neutral” rating on shares of Hovnanian Enterprises in a report on Tuesday, September 5th. Finally, TheStreet downgraded shares of Hovnanian Enterprises from a “c-” rating to a “d” rating in a report on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $1.53.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.

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Institutional Ownership by Quarter for Hovnanian Enterprises (NYSE:HOV)

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