Hovnanian Enterprises (NYSE:HOV) Shares Gap Down – Should You Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV) gapped down prior to trading on Wednesday . The stock had previously closed at $132.56, but opened at $125.87. Hovnanian Enterprises shares last traded at $126.55, with a volume of 7,774 shares traded.

Wall Street Analyst Weigh In

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

Hovnanian Enterprises Stock Down 3.6 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. The firm has a market cap of $774.77 million, a PE ratio of 3.99 and a beta of 2.71. The business has a fifty day moving average price of $139.34 and a two-hundred day moving average price of $174.96.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, December 5th. The construction company reported $12.79 EPS for the quarter. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Institutional Trading of Hovnanian Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Philadelphia Financial Management of San Francisco LLC acquired a new position in Hovnanian Enterprises in the 3rd quarter valued at approximately $17,449,000. Brightline Capital Management LLC raised its holdings in Hovnanian Enterprises by 68.8% in the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock valued at $16,554,000 after acquiring an additional 33,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Hovnanian Enterprises by 92.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock valued at $10,212,000 after acquiring an additional 23,990 shares in the last quarter. Foundry Partners LLC raised its holdings in Hovnanian Enterprises by 53.3% in the 3rd quarter. Foundry Partners LLC now owns 52,809 shares of the construction company’s stock valued at $10,793,000 after acquiring an additional 18,372 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Hovnanian Enterprises by 98.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company’s stock valued at $6,023,000 after purchasing an additional 14,624 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

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.