Insider Selling: Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Sells 877 Shares of 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 shares were sold at an average price of $203.27, for a total transaction of $178,267.79. Following the transaction, the chief executive officer now directly owns 46,279 shares of the company’s stock, 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 Stock Down 0.1 %

Shares of HOV traded down $0.12 during trading on Tuesday, reaching $204.25. The company’s stock had a trading volume of 53,215 shares, compared to its average volume of 82,008. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 6.82 and a beta of 2.64. 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 company has a fifty day moving average of $202.69 and a two-hundred day moving average of $169.16. Hovnanian Enterprises, Inc. has a twelve month low of $65.22 and a twelve month high of $240.34.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Hovnanian Enterprises

Several large investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its stake in 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. Range Financial Group LLC raised its stake in Hovnanian Enterprises by 2.6% during the second quarter. Range Financial Group LLC now owns 4,595 shares of the construction company’s stock worth $652,000 after acquiring an additional 117 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Hovnanian Enterprises by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company’s stock valued at $274,000 after acquiring an additional 145 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Hovnanian Enterprises by 2.4% during the first 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 last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Hovnanian Enterprises in the 2nd quarter worth approximately $37,000. 65.40% of the stock is currently owned by institutional investors.

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.