Range Financial Group LLC Acquires 117 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Range Financial Group LLC boosted its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,595 shares of the construction company’s stock after buying an additional 117 shares during the quarter. Range Financial Group LLC owned approximately 0.08% of Hovnanian Enterprises worth $652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Hovnanian Enterprises during the 2nd quarter worth approximately $37,000. CWM LLC lifted its position in Hovnanian Enterprises by 3,541.7% during the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after buying an additional 425 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Hovnanian Enterprises by 27.4% during the 4th quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock worth $123,000 after acquiring an additional 170 shares during the last quarter. EntryPoint Capital LLC increased its position in Hovnanian Enterprises by 309.9% in the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after acquiring an additional 626 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Hovnanian Enterprises during the second quarter worth approximately $156,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insider Transactions at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 4,000 shares of Hovnanian Enterprises stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $232.21, for a total transaction of $928,840.00. Following the transaction, the director now owns 14,790 shares of the company’s stock, valued at approximately $3,434,385.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Edward A. Kangas sold 4,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $232.21, for a total transaction of $928,840.00. Following the completion of the transaction, the director now owns 14,790 shares in the company, valued at $3,434,385.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ara K. Hovnanian sold 4,548 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $146.66, for a total transaction of $667,009.68. Following the completion of the transaction, the chief executive officer now directly owns 60,982 shares of the company’s stock, valued at approximately $8,943,620.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,584 shares of company stock worth $14,342,422. 17.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Zelman & Associates raised Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 target price for the company in a research note on Thursday, May 23rd.

Hovnanian Enterprises Stock Performance

Hovnanian Enterprises stock opened at $190.49 on Thursday. Hovnanian Enterprises, Inc. has a 1 year low of $65.22 and a 1 year high of $240.34. The company’s 50-day moving average is $184.08 and its two-hundred day moving average is $161.91. The company has a current ratio of 1.35, a quick ratio of 0.32 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.14 billion, a PE ratio of 6.34 and a beta of 2.58.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Thursday, August 22nd. The construction company reported $9.75 EPS for the quarter. The firm had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 54.73%. During the same period in the prior year, the firm posted $7.38 EPS. Equities analysts anticipate that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.

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.