Hovnanian Enterprises, Inc. (NYSE:HOV) Sees Large Decline in Short Interest

Hovnanian Enterprises, Inc. (NYSE:HOV) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 756,500 shares, a drop of 13.3% from the June 30th total of 872,900 shares. Based on an average daily volume of 185,300 shares, the days-to-cover ratio is presently 4.1 days. Currently, 0.6% of the shares of the company are sold short.

Shares of NYSE:HOV traded up $0.06 during midday trading on Friday, hitting $5.51. The company’s stock had a trading volume of 96,500 shares, compared to its average volume of 121,185. The stock has a market capitalization of $32.61 million, a price-to-earnings ratio of 7.35 and a beta of 1.79. The stock’s 50 day simple moving average is $6.92 and its 200 day simple moving average is $7.51. Hovnanian Enterprises has a fifty-two week low of $5.15 and a fifty-two week high of $43.25.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Thursday, June 6th. The construction company reported ($2.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.77) by ($0.79). The business had revenue of $440.69 million during the quarter. Hovnanian Enterprises had a net margin of 0.66% and a negative return on equity of 2.03%. Analysts forecast that Hovnanian Enterprises will post 0.05 EPS for the current fiscal year.



Separately, ValuEngine raised Hovnanian Enterprises from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st.

Several large investors have recently modified their holdings of HOV. Price T Rowe Associates Inc. MD acquired a new stake in shares of Hovnanian Enterprises in the second quarter worth $95,000. Jane Street Group LLC acquired a new stake in shares of Hovnanian Enterprises in the second quarter worth $86,000. Paloma Partners Management Co purchased a new stake in shares of Hovnanian Enterprises during the second quarter worth $164,000. Vanguard Group Inc. raised its holdings in shares of Hovnanian Enterprises by 28.5% during the second quarter. Vanguard Group Inc. now owns 205,546 shares of the construction company’s stock worth $1,562,000 after acquiring an additional 45,539 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Hovnanian Enterprises by 1,654.5% during the second quarter. JPMorgan Chase & Co. now owns 55,917 shares of the construction company’s stock worth $403,000 after acquiring an additional 52,730 shares in the last quarter. 27.64% of the stock is currently owned by institutional investors.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company builds and markets homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 123 communities in 25 markets.

Further Reading: Capital gains and your 401(k) or IRA

Receive News & Ratings for Hovnanian Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hovnanian Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.