Range Financial Group LLC Acquires Shares of 5,708 Hovnanian Enterprises, Inc. (NYSE:HOV)

Range Financial Group LLC acquired a new position in Hovnanian Enterprises, Inc. (NYSE:HOV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,708 shares of the construction company’s stock, valued at approximately $764,000.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Hovnanian Enterprises during the 3rd quarter worth about $33,000. FMR LLC raised its position in Hovnanian Enterprises by 20.6% during the third quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after acquiring an additional 59 shares in the last quarter. CWM LLC lifted its holdings in Hovnanian Enterprises by 89.6% in the third quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after acquiring an additional 354 shares during the period. Creative Planning purchased a new stake in Hovnanian Enterprises in the 3rd quarter worth approximately $202,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Hovnanian Enterprises during the 3rd quarter worth approximately $205,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush reiterated a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Hovnanian Enterprises Price Performance

HOV stock traded down $1.04 during mid-day trading on Tuesday, reaching $125.98. 108,689 shares of the company’s stock were exchanged, compared to its average volume of 82,797. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. Hovnanian Enterprises, Inc. has a 12-month low of $124.02 and a 12-month high of $240.34. The stock’s 50 day moving average is $164.43 and its 200 day moving average is $179.97. The company has a market cap of $762.81 million, a price-to-earnings ratio of 3.92 and a beta of 2.70.

Insider Activity

In related news, Director Edward A. Kangas sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the sale, the director now directly owns 13,290 shares in the company, valued at approximately $2,509,949.40. The trade was a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ara K. Hovnanian sold 644 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $194.99, for a total transaction of $125,573.56. Following the sale, the chief executive officer now directly owns 45,635 shares of the company’s stock, valued at $8,898,368.65. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.67% of the company’s stock.

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.