Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian Sells 24,686 Shares of Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 24,686 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $141.04, for a total transaction of $3,481,713.44. Following the sale, the chief executive officer now directly owns 32,890 shares in the company, valued at $4,638,805.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hovnanian Enterprises Stock Performance

Shares of NYSE HOV opened at $141.70 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.32 and a current ratio of 1.35. The company has a market capitalization of $848.78 million, a PE ratio of 4.72 and a beta of 2.45. Hovnanian Enterprises, Inc. has a 1 year low of $65.22 and a 1 year high of $184.42. The company’s fifty day moving average price is $152.24 and its 200 day moving average price is $152.39.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on HOV. Zelman & Associates raised shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price target on the stock in a report on Thursday, May 23rd. StockNews.com raised shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a report on Monday, June 3rd.

Hedge Funds Weigh In On Hovnanian Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in 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 in the last quarter. EntryPoint Capital LLC raised its position in shares of Hovnanian Enterprises by 309.9% in the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after buying an additional 626 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Hovnanian Enterprises by 6.1% in the first 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 last quarter. Foundry Partners LLC acquired a new stake in shares of Hovnanian Enterprises in the first quarter valued at about $4,259,000. Finally, Entropy Technologies LP acquired a new stake in shares of Hovnanian Enterprises in the first quarter valued at about $205,000. 65.40% of the stock is owned by hedge funds and other 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.