Insider Selling: Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Sells $143,682.84 in Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 644 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $223.11, for a total value of $143,682.84. Following the completion of the sale, the chief executive officer now directly owns 60,831 shares in the company, valued at approximately $13,572,004.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hovnanian Enterprises Stock Performance

Hovnanian Enterprises stock opened at $216.23 on Friday. Hovnanian Enterprises, Inc. has a fifty-two week low of $65.22 and a fifty-two week high of $240.34. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.21 and a beta of 2.58. The stock has a fifty day moving average of $180.43 and a two-hundred day moving average of $161.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.32 and a current ratio of 1.35.

Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. The firm had revenue of $722.70 million during the quarter. During the same period in the previous year, the firm posted $7.38 EPS. On average, analysts anticipate that Hovnanian Enterprises, Inc. will post 27 EPS for the current fiscal year.

Institutional Trading of Hovnanian Enterprises

A number of hedge funds have recently bought and sold shares of HOV. Truist Financial Corp acquired a new position in Hovnanian Enterprises in the 2nd quarter valued at $352,000. The Manufacturers Life Insurance Company increased 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 purchasing an additional 145 shares during the last quarter. AQR Capital Management LLC increased its stake in Hovnanian Enterprises by 8.3% in the second quarter. AQR Capital Management LLC now owns 67,180 shares of the construction company’s stock valued at $9,534,000 after purchasing an additional 5,135 shares during the last quarter. AXA S.A. lifted its position in Hovnanian Enterprises by 306.7% during the second quarter. AXA S.A. now owns 6,930 shares of the construction company’s stock worth $984,000 after buying an additional 5,226 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in Hovnanian Enterprises by 94.4% in the 2nd quarter. Squarepoint Ops LLC now owns 3,549 shares of the construction company’s stock worth $504,000 after buying an additional 1,723 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

HOV has been the topic of several recent research reports. StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. 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.

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.