Hovnanian Enterprises (NYSE:HOV) Shares Down 5.3%

Hovnanian Enterprises, Inc. (NYSE:HOV) shares fell 5.3% on Wednesday . The company traded as low as $203.43 and last traded at $203.99. 46,828 shares traded hands during trading, a decline of 43% from the average session volume of 82,201 shares. The stock had previously closed at $215.42.

Wall Street Analyst Weigh In

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

Hovnanian Enterprises Stock Down 5.8 %

The company has a market cap of $1.23 billion, a P/E ratio of 7.20 and a beta of 2.64. The company has a 50 day moving average of $201.03 and a 200-day moving average of $167.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27.

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

Insiders Place Their Bets

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 14,000 shares of Hovnanian Enterprises stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $153.30, for a total transaction of $2,146,200.00. Following the completion of the sale, the chief executive officer now owns 34,075 shares of the company’s stock, valued at $5,223,697.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Ara K. Hovnanian sold 14,000 shares of Hovnanian Enterprises stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $153.30, for a total value of $2,146,200.00. Following the transaction, the chief executive officer now owns 34,075 shares in the company, valued at $5,223,697.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ara K. Hovnanian sold 24,686 shares of Hovnanian Enterprises stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $141.04, for a total value of $3,481,713.44. Following the completion of the transaction, the chief executive officer now owns 32,890 shares in the company, valued at approximately $4,638,805.60. The disclosure for this sale can be found here. Insiders sold a total of 90,068 shares of company stock valued at $17,125,163 over the last 90 days. Insiders own 17.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HOV. Foundry Partners LLC purchased a new position in Hovnanian Enterprises during the 1st quarter valued at about $4,259,000. Bank of Montreal Can increased its holdings in Hovnanian Enterprises by 72.3% during the 2nd quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock valued at $6,438,000 after purchasing an additional 19,031 shares during the period. American Century Companies Inc. increased its holdings in Hovnanian Enterprises by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after purchasing an additional 18,622 shares during the period. Nisa Investment Advisors LLC increased its holdings in Hovnanian Enterprises by 425,175.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,011 shares of the construction company’s stock valued at $2,414,000 after purchasing an additional 17,007 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Hovnanian Enterprises by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock worth $44,011,000 after acquiring an additional 16,012 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.