Insider Selling: Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Sells 644 Shares of Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 644 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $194.99, for a total value of $125,573.56. Following the transaction, the chief executive officer now directly owns 45,635 shares in the company, valued at approximately $8,898,368.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hovnanian Enterprises Stock Performance

Shares of NYSE HOV traded up $13.69 during midday trading on Wednesday, hitting $210.23. The company’s stock had a trading volume of 61,083 shares, compared to its average volume of 80,539. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. Hovnanian Enterprises, Inc. has a 1-year low of $65.22 and a 1-year high of $240.34. The firm’s fifty day moving average price is $203.24 and its 200-day moving average price is $173.22. The firm has a market cap of $1.26 billion, a P/E ratio of 7.01 and a beta of 2.59.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, August 22nd. The construction company reported $9.75 EPS for the quarter. The company had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. During the same quarter in the previous year, the firm earned $7.38 earnings per share. On average, sell-side analysts forecast that Hovnanian Enterprises, Inc. will post 30 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in shares of Hovnanian Enterprises during the second quarter valued at $37,000. CWM LLC boosted its stake in Hovnanian Enterprises by 3,541.7% during the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after purchasing an additional 425 shares during the period. EntryPoint Capital LLC grew its position in Hovnanian Enterprises by 309.9% in the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after purchasing an additional 626 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Hovnanian Enterprises in the second quarter valued at approximately $156,000. Finally, Creative Planning bought a new stake in shares of Hovnanian Enterprises during the third quarter valued at approximately $202,000. 65.40% of the stock is currently owned by institutional investors.

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.