Hovnanian Enterprises (NYSE:HOV) Reaches New 1-Year Low – Time to Sell?

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) reached a new 52-week low on Friday . The stock traded as low as $125.38 and last traded at $128.04, with a volume of 91754 shares. The stock had previously closed at $133.82.

Analyst Ratings Changes

Separately, Wedbush reaffirmed a “neutral” rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Hovnanian Enterprises Stock Performance

The firm’s 50 day moving average is $165.41 and its 200-day moving average is $179.82. The firm has a market cap of $785.70 million, a price-to-earnings ratio of 4.04 and a beta of 2.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45.

Insider Activity at Hovnanian Enterprises

In related news, CEO Ara K. Hovnanian sold 644 shares of Hovnanian Enterprises stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $194.99, for a total value of $125,573.56. Following the sale, the chief executive officer now owns 45,635 shares of the company’s stock, valued at approximately $8,898,368.65. The trade was a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $188.86, for a total transaction of $283,290.00. Following the transaction, the director now owns 13,290 shares of the company’s stock, valued at $2,509,949.40. This represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. 17.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings in Hovnanian Enterprises by 20.6% in the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after purchasing an additional 59 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Hovnanian Enterprises by 2.9% during the second 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 last quarter. Koss Olinger Consulting LLC boosted its stake in shares of Hovnanian Enterprises by 3.5% in the 3rd quarter. Koss Olinger Consulting LLC now owns 3,404 shares of the construction company’s stock worth $696,000 after buying an additional 115 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Hovnanian Enterprises by 8.1% during 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. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Hovnanian Enterprises during the third quarter valued at approximately $33,000. 65.40% of the stock is currently owned by institutional investors.

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.