Peapack Gladstone Financial Corp Reduces Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Peapack Gladstone Financial Corp reduced its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 14.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,662 shares of the construction company’s stock after selling 1,800 shares during the period. Peapack Gladstone Financial Corp owned approximately 0.18% of Hovnanian Enterprises worth $2,179,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in shares of Hovnanian Enterprises by 16.1% in the second quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock worth $19,008,000 after purchasing an additional 18,622 shares during the period. Forager Capital Management LLC increased its position in shares of Hovnanian Enterprises by 3.5% during the 3rd quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company’s stock valued at $23,911,000 after purchasing an additional 4,000 shares during the last quarter. Geode Capital Management LLC grew its position in Hovnanian Enterprises by 0.3% during the third quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company’s stock valued at $22,882,000 after acquiring an additional 322 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at $17,449,000. Finally, Brightline Capital Management LLC increased its holdings in shares of Hovnanian Enterprises by 68.8% in the third quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock worth $16,554,000 after buying an additional 33,000 shares during the period. Institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Hovnanian Enterprises

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the transaction, the director now owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. This trade represents a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ara K. Hovnanian sold 13,552 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $215.14, for a total value of $2,915,577.28. Following the completion of the sale, the chief executive officer now directly owns 47,279 shares in the company, valued at approximately $10,171,604.06. This represents a 22.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,289 shares of company stock worth $5,158,796 over the last 90 days. 17.67% of the stock is owned by company insiders.

Hovnanian Enterprises Stock Performance

Shares of HOV stock opened at $156.86 on Friday. The stock has a fifty day moving average of $182.16 and a 200 day moving average of $181.33. Hovnanian Enterprises, Inc. has a 52 week low of $125.63 and a 52 week high of $240.34. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $949.00 million, a price-to-earnings ratio of 4.89 and a beta of 2.62.

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.