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

Forager Capital Management LLC grew its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 61.6% during the fourth quarter, Holdings Channel reports. The firm owned 189,068 shares of the construction company’s stock after purchasing an additional 72,068 shares during the period. Hovnanian Enterprises makes up approximately 10.6% of Forager Capital Management LLC’s portfolio, making the stock its 4th largest position. Forager Capital Management LLC’s holdings in Hovnanian Enterprises were worth $25,301,000 at the end of the most recent reporting period.

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

Hovnanian Enterprises Stock Performance

Shares of HOV stock opened at $101.58 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The firm has a market cap of $601.86 million, a price-to-earnings ratio of 3.16 and a beta of 2.28. Hovnanian Enterprises, Inc. has a 52 week low of $81.15 and a 52 week high of $240.34. The firm’s 50-day simple moving average is $100.77 and its two-hundred day simple moving average is $132.23.

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

Wall Street Analysts Forecast Growth

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

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.