Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 93.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,779 shares of the construction company’s stock after acquiring an additional 4,246 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of Hovnanian Enterprises worth $1,794,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of HOV. Allspring Global Investments Holdings LLC acquired a new stake in Hovnanian Enterprises in the 3rd quarter valued at approximately $33,000. Innealta Capital LLC acquired a new position in shares of Hovnanian Enterprises during the second quarter valued at $37,000. CWM LLC raised its stake in shares of Hovnanian Enterprises by 89.6% during the third quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after purchasing an additional 354 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Hovnanian Enterprises in the second quarter worth about $156,000. Finally, Creative Planning bought a new position in Hovnanian Enterprises in the 3rd quarter valued at about $202,000. Institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Trading Up 8.0 %

NYSE:HOV opened at $196.20 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Hovnanian Enterprises, Inc. has a 1-year low of $86.61 and a 1-year high of $240.34. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 6.06 and a beta of 2.60. The stock has a fifty day simple moving average of $190.50 and a 200 day simple moving average of $179.60.

Insider Buying and Selling

In related news, CEO Ara K. Hovnanian sold 123 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $220.13, for a total transaction of $27,075.99. Following the completion of the sale, the chief executive officer now directly owns 47,156 shares in the company, valued at approximately $10,380,450.28. This trade represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J Larry Sorsby sold 4,062 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $225.61, for a total transaction of $916,427.82. Following the completion of the transaction, the director now owns 127,982 shares in the company, valued at approximately $28,874,019.02. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,413 shares of company stock valued at $7,162,517. Company insiders own 17.67% of the company’s stock.

Wall Street Analyst Weigh In

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

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.