|Bid||0.00 x 800|
|Ask||1.90 x 21500|
|Day's range||1.71 - 1.82|
|52-week range||1.65 - 3.41|
|PE ratio (TTM)||N/A|
|Earnings date||5 Sep 2018 - 10 Sep 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||1.52|
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."
Hovnanian Enterprises, Inc. (HOV), a leading national homebuilder, announced today that Bonnie Stone Sellers has been appointed to its Board of Directors effective immediately. The addition of Ms. Sellers expands Hovnanian’s Board of Directors to eight members, six of whom are independent directors. Ms. Sellers, who brings considerable expertise and over 35 years of global real estate experience, will also serve on the Board of Director’s Audit Committee and Corporate Governance and Nominating Committee.
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.
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.
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 ...
Increases in Gross Margin Percentage, Contracts per Community and Lots Controlled Lower Community Count Continues to Challenge Results Solus Litigation Dismissed and Concluded Favorably for Hovnanian Company ...
NEW YORK, June 07, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Gridsum ...
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...
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.
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.
NEW YORK, May 25, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of L.B. ...
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.
Hovnanian Enterprises, Inc. (HOV), a leading national homebuilder, will release financial results for the second quarter ended April 30, 2018 the morning of Thursday, June 7, 2018. The Company will webcast its second quarter earnings conference call at 11:00 a.m. (ET) on Thursday, June 7, 2018. The conference call and accompanying slide presentation will be webcast live through the “Investor Relations” section of Hovnanian Enterprises’ website at http://www.khov.com.
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.
MATAWAN, N.J., May 14, 2018-- Hovnanian Enterprises, Inc. announced today that, in connection with its wholly-owned subsidiary K. Hovnanian Enterprises, Inc.’ s previously announced private offer to exchange ...
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.
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.
RED BANK, N.J., May 08, 2018-- Hovnanian Enterprises, Inc., a leading national homebuilder, announced that senior management will be presenting at the J.P. Morgan Homebuilding and Building Products Conference ...
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.