Metis Global Partners LLC Invests $248,000 in Hovnanian Enterprises, Inc. (NYSE:HOV)

Metis Global Partners LLC purchased a new stake in Hovnanian Enterprises, Inc. (NYSE:HOV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,213 shares of the construction company’s stock, valued at approximately $248,000.

Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in shares of Hovnanian Enterprises by 2.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,223 shares of the construction company’s stock worth $315,000 after purchasing an additional 63 shares during the last quarter. Koss Olinger Consulting LLC grew its stake in Hovnanian Enterprises by 3.5% during the third quarter. Koss Olinger Consulting LLC now owns 3,404 shares of the construction company’s stock worth $696,000 after buying an additional 115 shares during the last quarter. Range Financial Group LLC grew its stake in Hovnanian Enterprises by 2.6% during the second quarter. Range Financial Group LLC now owns 4,595 shares of the construction company’s stock worth $652,000 after buying an additional 117 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Hovnanian Enterprises by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company’s stock worth $274,000 after buying an additional 145 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Hovnanian Enterprises in the third quarter valued at approximately $33,000. 65.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd.

Insiders Place Their Bets

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 4,000 shares of the company’s stock in a transaction dated 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 directly owns 14,790 shares in the company, valued at approximately $3,434,385.90. This represents a 21.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ara K. Hovnanian sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $229.45, for a total transaction of $4,589,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,890 shares in the company, valued at $2,957,610.50. This trade represents a 60.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,057 shares of company stock valued at $12,824,040. 17.67% of the stock is currently owned by corporate insiders.

Hovnanian Enterprises Stock Performance

Hovnanian Enterprises stock opened at $172.31 on Wednesday. The stock has a 50-day simple moving average of $192.40 and a 200 day simple moving average of $179.06. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 5.32 and a beta of 2.60. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Hovnanian Enterprises, Inc. has a 12-month low of $86.61 and a 12-month high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. The company had revenue of $722.70 million during the quarter. During the same period in the prior year, the firm posted $7.38 earnings per share. On average, research analysts anticipate that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current fiscal year.

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.