Hovnanian Enterprises Inc (NYSE:HOV) Holdings Trimmed by Credit Suisse AG

Credit Suisse AG lessened its holdings in Hovnanian Enterprises Inc (NYSE:HOV) by 16.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 108,322 shares of the construction company’s stock after selling 20,877 shares during the period. Credit Suisse AG owned approximately 0.07% of Hovnanian Enterprises worth $246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Hovnanian Enterprises by 21.4% during the first quarter. Vanguard Group Inc. now owns 5,399,420 shares of the construction company’s stock valued at $12,257,000 after acquiring an additional 953,607 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Hovnanian Enterprises by 91.8% in the first quarter. Renaissance Technologies LLC now owns 4,625,402 shares of the construction company’s stock worth $10,500,000 after purchasing an additional 2,213,900 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Hovnanian Enterprises by 227.8% in the first quarter. AQR Capital Management LLC now owns 676,022 shares of the construction company’s stock worth $1,535,000 after purchasing an additional 469,768 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hovnanian Enterprises by 10.4% in the first quarter. Dimensional Fund Advisors LP now owns 627,804 shares of the construction company’s stock worth $1,425,000 after purchasing an additional 59,100 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Hovnanian Enterprises by 67.9% in the first quarter. TIAA CREF Investment Management LLC now owns 566,031 shares of the construction company’s stock worth $1,285,000 after purchasing an additional 228,838 shares during the last quarter. Institutional investors own 31.04% of the company’s stock.

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HOV has been the topic of a number of research analyst reports. MKM Partners restated a “neutral” rating on shares of Hovnanian Enterprises in a report on Tuesday, September 5th. BidaskClub cut shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, TheStreet cut shares of Hovnanian Enterprises from a “c-” rating to a “d” rating in a report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $1.53.

Shares of Hovnanian Enterprises Inc (NYSE:HOV) opened at 1.75 on Friday. The company has a 50-day moving average of $1.98 and a 200-day moving average of $2.28. The stock’s market capitalization is $258.29 million. Hovnanian Enterprises Inc has a 1-year low of $1.52 and a 1-year high of $2.98.

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

Hovnanian Enterprises Profile

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.

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

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