Forager Capital Management LLC Has $25.30 Million Stock Holdings in Hovnanian Enterprises, Inc. (NYSE:HOV)

Forager Capital Management LLC raised its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 61.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 189,068 shares of the construction company’s stock after buying an additional 72,068 shares during the period. Hovnanian Enterprises comprises about 10.6% of Forager Capital Management LLC’s portfolio, making the stock its 4th biggest position. Forager Capital Management LLC owned 3.12% of Hovnanian Enterprises worth $25,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HOV. Barclays PLC increased its position in shares of Hovnanian Enterprises by 352.6% during the third quarter. Barclays PLC now owns 8,274 shares of the construction company’s stock worth $1,691,000 after buying an additional 6,446 shares during the period. Franklin Resources Inc. boosted its position in Hovnanian Enterprises by 4.7% during the third quarter. Franklin Resources Inc. now owns 14,912 shares of the construction company’s stock valued at $2,926,000 after acquiring an additional 669 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Hovnanian Enterprises by 98.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company’s stock worth $6,023,000 after acquiring an additional 14,624 shares during the period. TrueWealth Advisors LLC bought a new position in shares of Hovnanian Enterprises in the 4th quarter worth about $406,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Hovnanian Enterprises by 51.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,135 shares of the construction company’s stock valued at $286,000 after purchasing an additional 724 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HOV. Zelman & Associates reiterated an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. StockNews.com lowered shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th.

Hovnanian Enterprises Price Performance

HOV stock opened at $101.58 on Friday. Hovnanian Enterprises, Inc. has a 1 year low of $81.15 and a 1 year high of $240.34. The stock has a market capitalization of $601.86 million, a PE ratio of 3.16 and a beta of 2.28. The company’s 50-day moving average is $100.77 and its 200-day moving average is $132.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34.

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

Hovnanian Enterprises Company 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.