Short Interest in Hovnanian Enterprises, Inc. (NYSE:HOV) Drops By 5.7%

Hovnanian Enterprises, Inc. (NYSE:HOV) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 193,500 shares, a drop of 5.7% from the November 30th total of 205,100 shares. Based on an average daily volume of 78,400 shares, the short-interest ratio is presently 2.5 days. Approximately 4.4% of the shares of the stock are short sold.

Hovnanian Enterprises Trading Down 0.1 %

Shares of NYSE:HOV traded down $0.13 during trading hours on Wednesday, hitting $133.82. 60,520 shares of the company’s stock traded hands, compared to its average volume of 76,872. The firm has a market capitalization of $809.61 million, a P/E ratio of 4.17 and a beta of 2.62. The business has a fifty day moving average price of $168.05 and a 200-day moving average price of $180.44. Hovnanian Enterprises has a 1 year low of $125.63 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.

Insider Activity

In related news, Director Edward A. Kangas sold 1,500 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the sale, the director now owns 13,290 shares of the company’s stock, valued at $2,509,949.40. This represents a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ara K. Hovnanian sold 644 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $194.99, for a total transaction of $125,573.56. Following the completion of the sale, the chief executive officer now owns 45,635 shares in the company, valued at approximately $8,898,368.65. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.67% of the company’s stock.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after purchasing an additional 59 shares during the period. Meeder Asset Management Inc. increased its stake in Hovnanian Enterprises by 2.9% in 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 period. Koss Olinger Consulting LLC lifted its holdings in Hovnanian Enterprises by 3.5% during the 3rd quarter. Koss Olinger Consulting LLC now owns 3,404 shares of the construction company’s stock valued at $696,000 after buying an additional 115 shares in the last quarter. Range Financial Group LLC boosted its position in Hovnanian Enterprises by 2.6% in the 2nd quarter. Range Financial Group LLC now owns 4,595 shares of the construction company’s stock valued at $652,000 after buying an additional 117 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Hovnanian Enterprises by 8.1% in the 2nd 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 in the last quarter. 65.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a report on Monday, December 16th.

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.