Cerity Partners LLC Acquires 190 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Cerity Partners LLC lifted its holdings in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,624 shares of the construction company’s stock after purchasing an additional 190 shares during the period. Cerity Partners LLC’s holdings in Hovnanian Enterprises were worth $536,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HOV. Allspring Global Investments Holdings LLC bought a new position in shares of Hovnanian Enterprises during the 3rd quarter worth approximately $33,000. Innealta Capital LLC bought a new position in Hovnanian Enterprises during the second quarter worth $37,000. CWM LLC grew its holdings in Hovnanian Enterprises by 89.6% in the third quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after purchasing an additional 354 shares during the period. International Assets Investment Management LLC acquired a new stake in Hovnanian Enterprises in the second quarter worth $156,000. Finally, Creative Planning acquired a new position in shares of Hovnanian Enterprises during the third quarter valued at about $202,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Price Performance

Shares of NYSE:HOV opened at $169.94 on Friday. Hovnanian Enterprises, Inc. has a twelve month low of $118.90 and a twelve month high of $240.34. The stock’s 50 day moving average is $185.82 and its 200-day moving average is $180.57. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 5.29 and a beta of 2.62.

Insider Buying and Selling at Hovnanian Enterprises

In other Hovnanian Enterprises news, Director J Larry Sorsby sold 4,062 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $225.61, for a total transaction of $916,427.82. Following the completion of the sale, the director now directly owns 127,982 shares of the company’s stock, valued at approximately $28,874,019.02. The trade was a 3.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ara K. Hovnanian sold 13,552 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $215.14, for a total value of $2,915,577.28. Following the completion of the transaction, the chief executive officer now owns 47,279 shares in the company, valued at $10,171,604.06. This represents a 22.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,289 shares of company stock valued at $5,158,796. Corporate insiders own 17.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hovnanian Enterprises 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.