Ara K. Hovnanian Sells 123 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 123 shares of the company’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 completion of the sale, the chief executive officer now owns 47,156 shares of the company’s stock, valued at approximately $10,380,450.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hovnanian Enterprises Price Performance

Shares of HOV stock opened at $201.57 on Friday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.72 and a beta of 2.64. Hovnanian Enterprises, Inc. has a 12-month low of $65.22 and a 12-month high of $240.34. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $201.89 and a 200-day moving average of $167.93.

Hovnanian Enterprises (NYSE:HOV) last announced 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 return on equity of 52.22% and a net margin of 8.41%. The company had revenue of $722.70 million during the quarter. During the same quarter last year, the company earned $7.38 earnings per share. On average, equities research analysts forecast that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.

Institutional Trading of Hovnanian Enterprises

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

Analysts Set New Price Targets

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

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.