Hovnanian Enterprises (NYSE:HOV) Trading Down 4.9% – Here’s Why

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price fell 4.9% during trading on Monday . The stock traded as low as $196.10 and last traded at $196.10. 13,029 shares were traded during mid-day trading, a decline of 84% from the average session volume of 80,047 shares. The stock had previously closed at $206.24.

Analysts Set New Price Targets

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

Hovnanian Enterprises Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. The company has a market capitalization of $1.06 billion, a PE ratio of 5.86 and a beta of 2.59. The firm has a 50-day moving average of $204.26 and a 200 day moving average of $174.55.

Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. The business had revenue of $722.70 million for the quarter. During the same period in the previous year, the business posted $7.38 earnings per share. As a group, research analysts anticipate that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current fiscal year.

Insider Buying and Selling at Hovnanian Enterprises

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the transaction, the director now owns 13,290 shares in the company, valued at $2,509,949.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Edward A. Kangas sold 1,500 shares of Hovnanian Enterprises stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $188.86, for a total value of $283,290.00. Following the completion of the transaction, the director now owns 13,290 shares in the company, valued at approximately $2,509,949.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ara K. Hovnanian sold 20,000 shares of Hovnanian Enterprises stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $229.45, for a total value of $4,589,000.00. Following the completion of the transaction, the chief executive officer now owns 12,890 shares of the company’s stock, valued at approximately $2,957,610.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,057 shares of company stock worth $12,824,040 in the last quarter. 17.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hovnanian Enterprises

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in Hovnanian Enterprises during the 3rd quarter worth $33,000. Innealta Capital LLC purchased a new stake in Hovnanian Enterprises during the 2nd quarter valued at about $37,000. EntryPoint Capital LLC grew its stake in Hovnanian Enterprises by 309.9% during the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after purchasing an additional 626 shares during the last quarter. CWM LLC grew its stake in Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after purchasing an additional 354 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Hovnanian Enterprises during the 2nd quarter valued at about $156,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

About Hovnanian Enterprises

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.