Hovnanian Enterprises (NYSE:HOV) Shares Down 7.4%

Hovnanian Enterprises, Inc. (NYSE:HOVGet Free Report)’s stock price traded down 7.4% on Tuesday . The stock traded as low as $149.17 and last traded at $149.17. 92,254 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 74,689 shares. The stock had previously closed at $161.05.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th.

Check Out Our Latest Report on Hovnanian Enterprises

Hovnanian Enterprises Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.41 and a current ratio of 1.28. The firm has a market capitalization of $919.03 million, a P/E ratio of 5.55 and a beta of 2.57. The business has a fifty day moving average of $127.96 and a 200-day moving average of $107.94.

Hovnanian Enterprises (NYSE:HOVGet Free Report) last announced its quarterly earnings results on Tuesday, December 5th. The construction company reported $15.57 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a return on equity of 66.13% and a net margin of 7.47%. The company had revenue of $887.03 million during the quarter.

Insider Buying and Selling

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 32,117 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $140.71, for a total transaction of $4,519,183.07. Following the transaction, the chief executive officer now owns 20,201 shares of the company’s stock, valued at approximately $2,842,482.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Ara K. Hovnanian sold 32,117 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $140.71, for a total value of $4,519,183.07. Following the completion of the transaction, the chief executive officer now directly owns 20,201 shares in the company, valued at $2,842,482.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ara K. Hovnanian sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $147.33, for a total transaction of $441,990.00. Following the transaction, the chief executive officer now owns 60,515 shares in the company, valued at approximately $8,915,674.95. The disclosure for this sale can be found here. Insiders sold 52,616 shares of company stock valued at $7,700,027 over the last 90 days. 20.31% of the stock is currently owned by company insiders.

Institutional Trading of Hovnanian Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SNC grew its holdings in Hovnanian Enterprises by 128.8% during the second quarter. BNP Paribas Arbitrage SNC now owns 10,205 shares of the construction company’s stock worth $1,012,000 after acquiring an additional 5,745 shares during the period. Woodson Capital Management LP grew its stake in shares of Hovnanian Enterprises by 0.6% in the 2nd quarter. Woodson Capital Management LP now owns 59,000 shares of the construction company’s stock worth $5,853,000 after purchasing an additional 347 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Hovnanian Enterprises in the 2nd quarter worth approximately $2,652,000. WINTON GROUP Ltd acquired a new stake in Hovnanian Enterprises during the second quarter valued at approximately $240,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Hovnanian Enterprises by 64.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 658 shares of the construction company’s stock worth $65,000 after buying an additional 258 shares in the last quarter. Institutional investors own 60.97% of the company’s stock.

Hovnanian Enterprises Company Profile

(Get Free Report)

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.

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