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Hovnanian Enterprises (HOV) has 2 splits in our HOV split history database. The first split for HOV took place on March 29, 2004. This was a 2 for 1 split, meaning for each share of HOV owned pre-split, the shareholder now owned 2 shares. For example, a 1000 share position pre-split, became a 2000 share position following the split. HOV's second split took place on March 29, 2019. This was a 1 for 25 reverse split, meaning for each 25 shares of HOV owned pre-split, the shareholder now owned 1 share. For example, a 2000 share position pre-split, became a 80 share position following the split.
When a company such as Hovnanian Enterprises splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Hovnanian Enterprises conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the HOV split history from start to finish, an original position size of 1000 shares would have turned into 80 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Hovnanian Enterprises shares, starting with a $10,000 purchase of HOV, presented on a split-history-adjusted basis factoring in the complete HOV split history.
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||-11.98%|
|About Hovnanian Enterprises|
|Hovnanian Enterprises, through its subsidiaries, designs, constructs, markets, and sells single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes in planned residential developments and is a builder of residential homes. Co. has two operations: homebuilding and financial services. Co.'s financial services operations provide mortgage loans and title services to the customers of its homebuilding operations. Co. markets and builds homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers and empty nesters. According to our HOV split history records, Hovnanian Enterprises has had 2 splits.|
|HOV Split History Table|
|03/29/2004||2 for 1|
|03/29/2019||1 for 25|
|Services Stock Splits|
|HOV is categorized under the Services sector; below are some other companies in the same sector that also have a history of stock splits:
Also explore: HOV shares outstanding history