Hovnanian Enterprises (NYSE:HOV) Shares Gap Up to $120.02

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) gapped up before the market opened on Thursday . The stock had previously closed at $120.02, but opened at $123.57. Hovnanian Enterprises shares last traded at $123.38, with a volume of 4 shares traded.

The stock has a market cap of $749.72 million, a P/E ratio of 1.39 and a beta of 2.45. The company has a current ratio of 0.94, a quick ratio of 0.24 and a debt-to-equity ratio of 3.12. The firm has a 50-day simple moving average of $108.82 and a two-hundred day simple moving average of $100.92.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Thursday, December 9th. The construction company reported $7.87 earnings per share (EPS) for the quarter. The company had revenue of $814.35 million for the quarter. Hovnanian Enterprises had a negative return on equity of 97.64% and a net margin of 21.84%. Sell-side analysts predict that Hovnanian Enterprises, Inc. will post 29.25 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Hovnanian Enterprises during the 2nd quarter worth $43,000. Royal Bank of Canada boosted its stake in Hovnanian Enterprises by 959.6% in the second quarter. Royal Bank of Canada now owns 498 shares of the construction company’s stock valued at $53,000 after buying an additional 451 shares in the last quarter. Citigroup Inc. boosted its stake in Hovnanian Enterprises by 99.4% in the third quarter. Citigroup Inc. now owns 668 shares of the construction company’s stock valued at $64,000 after buying an additional 333 shares in the last quarter. Legal & General Group Plc acquired a new stake in Hovnanian Enterprises in the second quarter valued at about $76,000. Finally, BNP Paribas Arbitrage SA acquired a new stake in Hovnanian Enterprises in the second quarter valued at about $81,000. 63.68% of the stock is currently owned by institutional investors.

About Hovnanian Enterprises (NYSE:HOV)

Hovnanian Enterprises, Inc is a homebuilding company, which engages in the design, construction, and marketing of single-family attached town homes and condominiums, urban infill, and planned residential developments. It operates through the following segments: Homebuilding, Financial Services, and Corporate.

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