Hovnanian Enterprises (NYSE:HOV) Stock Crosses Above 200-Day Moving Average – Here’s Why

Hovnanian Enterprises, Inc. (NYSE:HOV)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $176.54 and traded as high as $188.05. Hovnanian Enterprises shares last traded at $180.21, with a volume of 49,331 shares trading hands.

Wall Street Analyst Weigh In

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

Hovnanian Enterprises Stock Up 1.8 %

The business’s 50 day moving average is $199.62 and its 200-day moving average is $176.54. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. The company has a market cap of $1.09 billion, a PE ratio of 5.57 and a beta of 2.60.

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. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. The company had revenue of $722.70 million during the quarter. During the same quarter in the prior year, the firm earned $7.38 EPS. As a group, analysts predict that Hovnanian Enterprises, Inc. will post 30 EPS for the current year.

Insider Transactions at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 123 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $220.13, for a total transaction of $27,075.99. Following the completion of the sale, the chief executive officer now owns 47,156 shares in the company, valued at approximately $10,380,450.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robin Stone Sellers sold 531 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $205.75, for a total transaction of $109,253.25. Following the completion of the sale, the director now owns 21,033 shares in the company, valued at approximately $4,327,539.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ara K. Hovnanian sold 123 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $220.13, for a total transaction of $27,075.99. Following the completion of the sale, the chief executive officer now owns 47,156 shares of the company’s stock, valued at approximately $10,380,450.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,057 shares of company stock worth $12,824,040. 17.67% of the stock is currently owned by insiders.

Institutional Trading of Hovnanian Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of HOV. Vanguard Group Inc. increased its stake in Hovnanian Enterprises by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock valued at $44,011,000 after buying an additional 16,012 shares during the period. American Century Companies Inc. increased its stake in Hovnanian Enterprises by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after buying an additional 18,622 shares during the period. AQR Capital Management LLC increased its stake in Hovnanian Enterprises by 8.3% in the 2nd quarter. AQR Capital Management LLC now owns 67,180 shares of the construction company’s stock valued at $9,534,000 after buying an additional 5,135 shares during the period. Assenagon Asset Management S.A. increased its stake in Hovnanian Enterprises by 26.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 47,561 shares of the construction company’s stock valued at $9,720,000 after buying an additional 9,825 shares during the period. Finally, Bank of Montreal Can increased its stake in Hovnanian Enterprises by 72.3% in the 2nd quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock valued at $6,438,000 after buying an additional 19,031 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.