Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian Sells 9,124 Shares of Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 9,124 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $219.61, for a total value of $2,003,721.64. Following the sale, the chief executive officer now owns 24,951 shares of the company’s stock, valued at $5,479,489.11. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Hovnanian Enterprises Stock Performance

HOV opened at $198.72 on Wednesday. The firm has a market capitalization of $1.19 billion, a PE ratio of 6.62 and a beta of 2.58. The company has a current ratio of 1.35, a quick ratio of 0.32 and a debt-to-equity ratio of 0.17. Hovnanian Enterprises, Inc. has a twelve month low of $65.22 and a twelve month high of $240.34. The firm’s 50-day moving average price is $183.08 and its 200 day moving average price is $161.71.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. Hovnanian Enterprises had a return on equity of 54.73% and a net margin of 8.41%. The business had revenue of $722.70 million for the quarter. During the same quarter in the prior year, the firm earned $7.38 earnings per share. As a group, sell-side analysts expect that Hovnanian Enterprises, Inc. will post 30 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HOV has been the topic of a number of research analyst reports. StockNews.com lowered Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Zelman & Associates upgraded Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price objective on the stock in a report on Thursday, May 23rd.

Institutional Trading of Hovnanian Enterprises

Several large investors have recently added to or reduced their stakes in HOV. Meeder Asset Management Inc. increased its holdings in shares of Hovnanian Enterprises by 2.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,223 shares of the construction company’s stock worth $315,000 after buying an additional 63 shares during the last quarter. Range Financial Group LLC grew its position in Hovnanian Enterprises by 2.6% in the second quarter. Range Financial Group LLC now owns 4,595 shares of the construction company’s stock worth $652,000 after acquiring an additional 117 shares during the period. The Manufacturers Life Insurance Company increased its stake in Hovnanian Enterprises by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company’s stock worth $274,000 after acquiring an additional 145 shares during the last quarter. Russell Investments Group Ltd. raised its position in Hovnanian Enterprises by 27.4% in the fourth quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock valued at $123,000 after purchasing an additional 170 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Hovnanian Enterprises by 2.4% in the 1st 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 during the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

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.