Ara K. Hovnanian Sells 877 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 877 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $203.27, for a total transaction of $178,267.79. Following the completion of the sale, the chief executive officer now owns 46,279 shares in the company, valued at approximately $9,407,132.33. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Hovnanian Enterprises Trading Down 2.2 %

NYSE:HOV opened at $199.51 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 6.65 and a beta of 2.64. Hovnanian Enterprises, Inc. has a 52 week low of $65.22 and a 52 week high of $240.34. The firm has a 50-day moving average price of $203.03 and a two-hundred day moving average price of $169.88.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in Hovnanian Enterprises by 2.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,223 shares of the construction company’s stock valued at $315,000 after purchasing an additional 63 shares during the period. Range Financial Group LLC boosted its holdings in Hovnanian Enterprises by 2.6% in the 2nd quarter. Range Financial Group LLC now owns 4,595 shares of the construction company’s stock valued at $652,000 after purchasing an additional 117 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Hovnanian Enterprises by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company’s stock valued at $274,000 after purchasing an additional 145 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Hovnanian Enterprises by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,917 shares of the construction company’s stock valued at $1,243,000 after purchasing an additional 188 shares during the period. Finally, Innealta Capital LLC bought a new position in Hovnanian Enterprises in the 2nd quarter valued at $37,000. 65.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.