Hovnanian Enterprises (NYSE:HOV) Stock Price Down 2.5% on Insider Selling

Hovnanian Enterprises, Inc. (NYSE:HOV) shares were down 2.5% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $192.47 and last traded at $194.18. Approximately 8,215 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 81,157 shares. The stock had previously closed at $199.06.

Specifically, Director Vincent Pagano, Jr. sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $201.11, for a total value of $603,330.00. Following the transaction, the director now directly owns 24,552 shares in the company, valued at approximately $4,937,652.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ara K. Hovnanian sold 877 shares of Hovnanian Enterprises stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $203.27, for a total transaction of $178,267.79. Following the sale, the chief executive officer now directly owns 46,279 shares of the company’s stock, valued at approximately $9,407,132.33. The disclosure for this sale can be found here. In related news, Director Robin Stone Sellers sold 531 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $205.75, for a total value of $109,253.25. Following the transaction, the director now owns 21,033 shares of the company’s stock, valued at $4,327,539.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

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

Hovnanian Enterprises Stock Performance

The business has a fifty day simple moving average of $203.03 and a two-hundred day simple moving average of $169.88. The company has a market cap of $1.15 billion, a PE ratio of 6.63 and a beta of 2.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. The firm had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. During the same quarter last year, the company earned $7.38 earnings per share. Research analysts anticipate that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.

Institutional Investors Weigh In On Hovnanian Enterprises

Several institutional investors have recently bought and sold shares of HOV. Innealta Capital LLC acquired a new position in shares of Hovnanian Enterprises during the second quarter worth $37,000. CWM LLC grew its stake in Hovnanian Enterprises by 3,541.7% during the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after buying an additional 425 shares during the last quarter. EntryPoint Capital LLC increased its position in Hovnanian Enterprises by 309.9% during the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after buying an additional 626 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Hovnanian Enterprises in the second quarter valued at about $156,000. Finally, Entropy Technologies LP acquired a new stake in Hovnanian Enterprises in the first quarter worth about $205,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.