Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian Sells 877 Shares

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 877 shares of the business’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 $9,407,132.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hovnanian Enterprises Price Performance

HOV stock traded down $0.12 during trading on Tuesday, hitting $204.25. The company had a trading volume of 53,215 shares, compared to its average volume of 82,008. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 6.82 and a beta of 2.64. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $202.69 and a 200 day moving average of $169.16. Hovnanian Enterprises, Inc. has a fifty-two week low of $65.22 and a fifty-two week high of $240.34.

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. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. The business had revenue of $722.70 million during the quarter. During the same quarter last year, the business earned $7.38 earnings per share. As a group, research analysts predict that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.

Hedge Funds Weigh In On Hovnanian Enterprises

Several hedge funds have recently modified their holdings of HOV. Vanguard Group Inc. lifted its holdings 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 period. Dimensional Fund Advisors LP boosted its position in shares of Hovnanian Enterprises by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 181,338 shares of the construction company’s stock valued at $28,221,000 after purchasing an additional 1,433 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Hovnanian Enterprises by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock worth $19,008,000 after purchasing an additional 18,622 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Hovnanian Enterprises by 8.3% in the 2nd quarter. AQR Capital Management LLC now owns 67,180 shares of the construction company’s stock worth $9,534,000 after purchasing an additional 5,135 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Hovnanian Enterprises by 17.4% in the 4th quarter. UBS Group AG now owns 53,332 shares of the construction company’s stock worth $8,300,000 after purchasing an additional 7,900 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.