Connor Clark & Lunn Investment Management Ltd. Has $1.79 Million Stake in Hovnanian Enterprises, Inc. (NYSE:HOV)

Connor Clark & Lunn Investment Management Ltd. increased its position in Hovnanian Enterprises, Inc. (NYSE:HOV) by 93.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,779 shares of the construction company’s stock after acquiring an additional 4,246 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hovnanian Enterprises were worth $1,794,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter worth $33,000. Innealta Capital LLC bought a new stake in Hovnanian Enterprises in the second quarter worth $37,000. CWM LLC increased its position in Hovnanian Enterprises by 89.6% during the third quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after buying an additional 354 shares during the last quarter. Creative Planning bought a new position in Hovnanian Enterprises during the third quarter valued at about $202,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Hovnanian Enterprises in the second quarter worth about $156,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director J Larry Sorsby sold 4,062 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $225.61, for a total value of $916,427.82. Following the completion of the sale, the director now directly owns 127,982 shares of the company’s stock, valued at approximately $28,874,019.02. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robin Stone Sellers sold 531 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $205.75, for a total transaction of $109,253.25. Following the completion of the sale, the director now owns 21,033 shares in the company, valued at approximately $4,327,539.75. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,413 shares of company stock valued at $7,162,517 in the last quarter. Insiders own 17.67% of the company’s stock.

Wall Street Analyst Weigh In

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

Hovnanian Enterprises Price Performance

NYSE HOV opened at $196.20 on Tuesday. Hovnanian Enterprises, Inc. has a 1 year low of $86.61 and a 1 year high of $240.34. The company has a fifty day simple moving average of $190.50 and a 200 day simple moving average of $179.60. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.19 billion, a P/E ratio of 6.06 and a beta of 2.60.

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.