JPMorgan Chase & Co. Purchases 14,624 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

JPMorgan Chase & Co. raised its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 98.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,472 shares of the construction company’s stock after purchasing an additional 14,624 shares during the quarter. JPMorgan Chase & Co.’s holdings in Hovnanian Enterprises were worth $6,023,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Separately, Wedbush reissued a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Price Performance

NYSE HOV opened at $140.76 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Hovnanian Enterprises, Inc. has a 12 month low of $115.90 and a 12 month high of $240.34. The stock has a market cap of $852.30 million, a price-to-earnings ratio of 4.38 and a beta of 2.70. The company’s 50 day moving average is $157.81 and its two-hundred day moving average is $179.26.

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.