Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian Sells 1,123 Shares of Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 1,123 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $140.05, for a total value of $157,276.15. Following the sale, the chief executive officer now directly owns 59,859 shares of the company’s stock, valued at $8,383,252.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Hovnanian Enterprises Stock Up 1.2 %

HOV stock opened at $141.70 on Friday. The business’s 50-day simple moving average is $152.24 and its 200 day simple moving average is $152.39. The company has a market cap of $848.78 million, a PE ratio of 4.72 and a beta of 2.45. Hovnanian Enterprises, Inc. has a twelve month low of $65.22 and a twelve month high of $184.42. The company has a quick ratio of 0.32, a current ratio of 1.35 and a debt-to-equity ratio of 0.17.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Wednesday, May 22nd. The construction company reported $6.66 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. The firm had revenue of $708.38 million during the quarter. On average, research analysts anticipate that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current year.

Institutional Trading of Hovnanian Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of HOV. CWM LLC increased its holdings in Hovnanian Enterprises by 3,541.7% during the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after acquiring an additional 425 shares during the period. AJOVista LLC purchased a new position in Hovnanian Enterprises in the 4th quarter worth approximately $97,000. Russell Investments Group Ltd. grew its stake in Hovnanian Enterprises by 27.4% in the 4th quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock worth $123,000 after buying an additional 170 shares in the last quarter. EntryPoint Capital LLC grew its stake 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 buying an additional 626 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Hovnanian Enterprises in the 4th quarter worth approximately $200,000. Institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Zelman & Associates raised Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price objective for the company in a research note on Thursday, May 23rd. StockNews.com raised Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd.

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.