HOV - Hovnanian Enterprises, Inc.

NYSE - NYSE Delayed price. Currency in USD
1.84
-0.03 (-1.60%)
At close: 4:02PM EDT
Stock chart is not supported by your current browser
Previous close1.87
Open1.89
Bid0.00 x 34100
Ask0.00 x 40000
Day's range1.81 - 1.89
52-week range1.65 - 3.41
Volume859,106
Avg. volume1,333,329
Market cap270.145M
Beta1.24
PE ratio (TTM)N/A
EPS (TTM)-2.47
Earnings date5 Sep 2018 - 10 Sep 2018
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est1.52
Trade prices are not sourced from all markets
  • Barrons.com13 hours ago

    Solus Made Money From That CDS Litigation

    The dust is settling from a nasty hedge fund battle over credit-default swaps, enough that observers can now figure out who eked out a profit. The background: GSO Capital Partners, the credit hedge fund within Blackstone Group (BX), bought CDS tied to the debt of home builder Hovnanian Enterprises (HOV). The price of the cheapest outstanding bond set the price for the CDS, which GSO controlled by building supercheap debt. Solus Alternative Asset Management held the opposite position in CDS, and so would have had to pay up, should the CDS be triggered.

  • Maybe Dollars Should Be Digital
    Bloomberg10 days ago

    Maybe Dollars Should Be Digital

    One weird thing about the U.S. financial system—and most modern financial systems—is that it is basically impossible to hold cash electronically. You can put your dollars in a bank account, but the bank could go bust.

  • Barrons.com12 days ago

    [$$] Can the Credit-Default-Swap Market Be Fixed?

    Two hedge funds made a mess in a corner of the credit market. Firms including BlueMountain Capital, Citadel, Apollo Global Management, Elliott Management, Anchorage Capital Partners, and CQS have been holed up in Manhattan conference rooms and on calls for months, trying to fix credit-default-swap contracts, people close to the situation say. Maligned in the financial crisis, CDS are drawing scrutiny again.

  • Associated Press14 days ago

    Hovnanian: Fiscal 2Q Earnings Snapshot

    The Red Bank, New Jersey-based company said it had a loss of 7 cents per share. The homebuilder posted revenue of $502.5 million in the period. The company's shares closed at $2.01. A year ago, they were ...

  • The Volcker Rule Gets a Little Easier
    Bloomberg21 days ago

    The Volcker Rule Gets a Little Easier

    Yesterday the Federal Reserve issued some fairly small proposed revisions to the Volcker Rule, which I guess we have to talk about. Here is an overview from Bloomberg’s Yalman Onaran, with the title “Why Wall Street Traders Aren’t Rejoicing (Yet) Over Volcker Rule.” The revisions tinker with the Volcker Rule’s requirements—removing a presumption that securities held for less than 60 days are held for “proprietary trading,” making it easier for banks to demonstrate that their market-making desks hold only enough inventory to meet “reasonaby expected near-term demand” from customers, etc.—to make compliance simpler, but don’t really change the basic structure of its prohibition on proprietary trading at banks. The standard criticism of easing the Volcker Rule is that it will allow banks to take more risks.

  • Is Hovnanian Enterprises Inc’s (NYSE:HOV) CEO Being Overpaid?
    Simply Wall St.21 days ago

    Is Hovnanian Enterprises Inc’s (NYSE:HOV) CEO Being Overpaid?

    Leading Hovnanian Enterprises Inc (NYSE:HOV) as the CEO, Ara Hovnanian took the company to a valuation of US$275.12M. Understanding how CEOs are incentivised to run and grow their company isRead More...

  • The Wall Street Journal21 days ago

    [$$] Blackstone Stands Down on Hovnanian Swaps Wager

    Inc. following an admonishment from U.S. regulators, ending a standoff with other investors that shook confidence in the multitrillion-dollar credit derivatives market. Blackstone’s GSO Capital Partners LP said Wednesday it was abandoning a complicated plan to collect payments from investors that wrote insurance-like contracts guaranteeing full payment on Hovnanian’s debts. GSO had bought these insurance instruments, known as credit default swaps, which pay out if Hovnanian were to default.

  • Hovnanian Pays Overdue Interest on Bonds Within Grace Period
    Bloomberg21 days ago

    Hovnanian Pays Overdue Interest on Bonds Within Grace Period

    Hovnanian Enterprises Inc. made an overdue interest payment on $26 million of bonds, according to a company filing Wednesday, bringing an end to a fight among hedge funds over what amounted to a manufactured ...

  • Blackstone, Solus Settle Fight Over Hovnanian CDS Trade
    Bloomberg21 days ago

    Blackstone, Solus Settle Fight Over Hovnanian CDS Trade

    Blackstone Group’s GSO Capital Partners and Solus Alternative Asset Management resolved a dispute over a financing plan for Hovnanian Enterprises Inc., ending an argument that had roiled the credit derivatives market. The fight stemmed from GSO’s agreement last year to lend money to the troubled homebuilder. As part of that deal, Hovnanian agreed to default on a chunk of its debt, a step that allowed GSO to profit from a separate credit derivatives trade.

  • The Wall Street Journal26 days ago

    [$$] Scurria's Take: Winner Not Clear in Goldman-Blackstone Swaps Deal

    Inc. recently made peace with Blackstone Group Inc. over a controversial credit derivatives trade, a gentlemen’s agreement of sorts that lets both sides avoid a public confrontation. The deal between Goldman and Blackstone’s GSO Capital Partners LP resolves a high-stakes standoff over credit default swaps tied to Hovnanian, which borrowed money from GSO last year under an unusual arrangement.

  • Forbes27 days ago

    A Six-Pack Of Homebuilding Buys

    We asked five experts who follow homebuilder stocks and contribute regularly to MoneyShow.com for their picks. They came back with a six-pack of buys.

  • Goldman and Blackstone Are Friends Again
    Bloomberg27 days ago

    Goldman and Blackstone Are Friends Again

    The Wall Street giants had taken opposite sides of a bet on bonds issued by home builder Hovnanian Enterprises Inc. The trades, engineered by Blackstone’s GSO Capital Partners LP, involved the home builder intentionally skipping a small interest payment earlier this month in exchange for an attractive financing package from the private-equity house. Blackstone had bought insurance against a default, which would allow it to make money from the skipped interest payment. It bought this insurance, through what are known as credit-default swaps, from Goldman and others.

  • Blackstone, Goldman Move Forward on Hovnanian CDS Trade
    Bloomberg27 days ago

    Blackstone, Goldman Move Forward on Hovnanian CDS Trade

    Blackstone Group LP bought a portion of the credit-default swaps Goldman Sachs Group wrote on homebuilder Hovnanian. Bloomberg's Jason Kelly reports on "Bloomberg Daybreak: Americas." (Source: ...

  • The Wall Street Journal27 days ago

    [$$] Goldman, Blackstone Make Peace in Credit-Derivative Standoff

    Goldman Sachs Group Inc. and Blackstone Group LP recently resolved a monthslong standoff over a controversial derivatives trade that had alarmed regulators and investors in the $11 trillion credit-default swaps market. The Wall Street giants had taken opposite sides of a bet on bonds issued by home builder Hovnanian Enterprises Inc. The trades, engineered by Blackstone’s GSO Capital Partners LP, involved the home builder intentionally skipping a small interest payment earlier this month in exchange for an attractive financing package from the private-equity house. Blackstone had bought insurance against a default, which would allow it to make money from the skipped interest payment.

  • Sinful Derivatives Have Their Uses
    Bloomberglast month

    Sinful Derivatives Have Their Uses

    Has the Pope been following the Hovnanian Enterprises Inc. trade? The Vatican takes the long view, though, and there is no reason to expect it to react to financial developments in anything like real time.

  • The Wall Street Journallast month

    [$$] Hovnanian Abandons Debt Exchange Ahead of Swap Auction

    Inc. creditors snubbed a bond exchange proposal that could have eased the home builder’s debt load at the expense of credit default swap sellers. New Jersey-based Hovnanian abandoned the proposed $50 million debt exchange after failing to get enough investors to participate. Under a controversial deal with GSO, Hovnanian skipped a $1 million interest payment May 1 on company-issued bonds it repurchased and parked with an affiliate.

  • Everyone Wants to See Green in Bonds
    Bloomberglast month

    Everyone Wants to See Green in Bonds

    How do you decide if an investment is socially responsible? Bonds are meant to be boring safe investments, and so in fact many bond investors outsource even the question “is this bond good?” to ratings agencies for a letter grade: AAA, good, C, not so good. Similarly it makes complete sense that if you would want to invest in socially responsible—or environmentally sound, or whatever—bonds, you would also want someone else to do the work of figuring out what that means and which bonds fit the requirements.

  • Reactions split over California solar panel mandate
    CNBClast month

    Reactions split over California solar panel mandate

    California regulators approve a plan to mandate solar panels on new homes in the state. Some argue it's an investment, while others say the move will only hurt low-income residents.

  • Chastened by past demons, CFTC is quick to call out potential manipulation in credit derivatives
    CNBClast month

    Chastened by past demons, CFTC is quick to call out potential manipulation in credit derivatives

    The Commodity Futures Trading Commission has recently issued a much-needed warning in response to possible manipulation of CDS trades by a couple of the biggest names on Wall Street.

  • The Wall Street Journal2 months ago

    [$$] Blackstone Unit Acknowledges Hovnanian Swaps Backlash

    Hovnanian skipped an interest payment due Tuesday on bonds it repurchased and parked with an affiliate, opening the door for GSO to collect payouts on credit-default swaps that insure against nonpayment. It will be up to an International Swaps and Derivatives Association committee whether the default triggers credit-default-swaps contracts tied to Hovnanian debt. The nonpayment was required of the home-building company under a sweetheart-lending deal with GSO featuring off-market debt designed to maximize the payday.

  • Canyon’s Friedman Laments GSO’s ‘Unseemly’ Hovnanian Swaps Deal
    Bloomberg2 months ago

    Canyon’s Friedman Laments GSO’s ‘Unseemly’ Hovnanian Swaps Deal

    Canyon Partners head Josh Friedman said GSO Capital Partners went “beyond the bounds” of how deals should be done when it required a homebuilder to default on debt in order to gain new financing. The default could allow GSO to collect on side-bets that it had used to wager against Hovnanian’s debt, a series of a arrangements that were “a little unseemly," Friedman, Canyon’s chief executive officer, said during a Bloomberg TV interview with Erik Schatzker at the Milken Institute Global Conference. The side-trades were done using credit default swaps, a derivatives market that was designed in part to compensate investors if a company ended up unable to pay its obligations.

  • Blackstone, Goldman Move Forward on Hovnanian CDS Trade
    Bloomberg Video27 days ago

    Blackstone, Goldman Move Forward on Hovnanian CDS Trade

    May.25 -- Blackstone Group LP bought a portion of the credit-default swaps Goldman Sachs Group wrote on homebuilder Hovnanian. Bloomberg's Jason Kelly reports on "Bloomberg Daybreak: Americas."

  • Canyon's Friedman Calls GSO, Hovnanian Swap 'A Little Unseemly'
    Bloomberg Video2 months ago

    Canyon's Friedman Calls GSO, Hovnanian Swap 'A Little Unseemly'

    Apr.30 -- Canyon Partners Co-Chief Executive Officer Joshua Friedman discusses market conditions, banks, and his view of the GSO, Hovnanian deal with Bloomberg's Erik Schatzker. He speaks from the Milken Institute Global Conference on "Bloomberg Markets."

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