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

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price fell 2.5% on Friday following insider selling activity. The company traded as low as $192.47 and last traded at $194.18. 8,215 shares were traded during trading, a decline of 90% from the average session 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 transaction of $603,330.00. Following the completion of the sale, the director now directly owns 24,552 shares in the company, valued at $4,937,652.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ara K. Hovnanian sold 877 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $203.27, for a total value of $178,267.79. Following the sale, the chief executive officer now owns 46,279 shares of the company’s stock, valued at approximately $9,407,132.33. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Robin Stone Sellers sold 531 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $205.75, for a total value of $109,253.25. Following the sale, the director now owns 21,033 shares in the company, valued at approximately $4,327,539.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

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

Hovnanian Enterprises Stock Down 0.6 %

The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.19 billion, a P/E ratio of 6.60 and a beta of 2.59. The firm’s fifty day moving average is $202.58 and its 200-day moving average is $170.52.

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

Institutional Investors Weigh In On Hovnanian Enterprises

A number of institutional investors have recently made changes to their positions in HOV. Caxton Associates LP boosted its position in shares of Hovnanian Enterprises by 18.9% during the fourth quarter. Caxton Associates LP now owns 15,388 shares of the construction company’s stock worth $2,395,000 after purchasing an additional 2,450 shares in the last quarter. Virtu Financial LLC acquired a new position in Hovnanian Enterprises in the fourth quarter valued at about $737,000. CWM LLC grew its stake in Hovnanian Enterprises by 3,541.7% in the first quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after acquiring an additional 425 shares during the period. Range Financial Group LLC bought a new stake in shares of Hovnanian Enterprises in the first quarter worth about $703,000. Finally, Denali Advisors LLC raised its position in shares of Hovnanian Enterprises by 88.0% during the first quarter. Denali Advisors LLC now owns 10,906 shares of the construction company’s stock worth $1,712,000 after purchasing an additional 5,106 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

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.