Hovnanian Enterprises, Inc. (NYSE:HOV) Director Sells $916,427.82 in Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) Director J Larry Sorsby sold 4,062 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $225.61, for a total value of $916,427.82. Following the completion of the sale, the director now directly owns 127,982 shares of the company’s stock, valued at approximately $28,874,019.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Hovnanian Enterprises Stock Performance

Shares of Hovnanian Enterprises stock traded up $4.82 during trading on Monday, reaching $219.74. The company’s stock had a trading volume of 46,284 shares, compared to its average volume of 82,587. The business’s 50-day moving average price is $199.40 and its 200-day moving average price is $166.45. The firm has a market cap of $1.32 billion, a PE ratio of 7.16 and a beta of 2.64. Hovnanian Enterprises, Inc. has a 52 week low of $65.22 and a 52 week high of $240.34. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20.

Hovnanian Enterprises (NYSE:HOV) last announced its earnings results 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 net margin of 8.41% and a return on equity of 52.22%. During the same period in the previous year, the firm posted $7.38 EPS. Equities analysts forecast that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Truist Financial Corp acquired a new position in shares of Hovnanian Enterprises in the second quarter valued at approximately $352,000. The Manufacturers Life Insurance Company boosted its holdings 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 acquiring an additional 145 shares during the last quarter. AQR Capital Management LLC boosted its holdings 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 acquiring an additional 5,135 shares during the last quarter. AXA S.A. boosted its holdings in Hovnanian Enterprises by 306.7% in the second quarter. AXA S.A. now owns 6,930 shares of the construction company’s stock valued at $984,000 after acquiring an additional 5,226 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Hovnanian Enterprises by 94.4% in the second quarter. Squarepoint Ops LLC now owns 3,549 shares of the construction company’s stock valued at $504,000 after acquiring an additional 1,723 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analysts Set New Price Targets

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