Insider Selling: Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Sells 123 Shares of Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 123 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $220.13, for a total value of $27,075.99. Following the sale, the chief executive officer now owns 47,156 shares in the company, valued at approximately $10,380,450.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hovnanian Enterprises Price Performance

NYSE HOV traded down $12.85 during trading hours on Wednesday, reaching $202.57. 109,216 shares of the stock traded hands, compared to its average volume of 82,570. The stock has a 50 day simple moving average of $201.03 and a two-hundred day simple moving average of $167.45. Hovnanian Enterprises, Inc. has a 1 year low of $65.22 and a 1 year high of $240.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 6.77 and a beta of 2.64.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Foundry Partners LLC purchased a new position in shares of Hovnanian Enterprises in the first quarter worth about $4,259,000. Vanguard Group Inc. increased its holdings in Hovnanian Enterprises by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock valued at $44,011,000 after purchasing an additional 16,012 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. Victory Capital Management Inc. increased its holdings in Hovnanian Enterprises by 88.1% during the 2nd quarter. Victory Capital Management Inc. now owns 14,334 shares of the construction company’s stock valued at $2,034,000 after purchasing an additional 6,715 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new position in Hovnanian Enterprises during the 2nd quarter valued at about $467,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research 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.