Short Interest in Hovnanian Enterprises, Inc. (NYSE:HOV) Grows By 7.2%

Hovnanian Enterprises, Inc. (NYSE:HOV) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 242,300 shares, an increase of 7.2% from the October 15th total of 226,100 shares. Approximately 5.5% of the company’s shares are short sold. Based on an average trading volume of 75,100 shares, the short-interest ratio is currently 3.2 days.

Insider Activity

In related news, Director Robin Stone Sellers sold 531 shares of Hovnanian Enterprises stock in a transaction that occurred 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 completion of the transaction, the director now owns 21,033 shares in the company, valued at approximately $4,327,539.75. The trade was a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Vincent Pagano, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $201.11, for a total transaction of $603,330.00. Following the sale, the director now directly owns 24,552 shares in the company, valued at approximately $4,937,652.72. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,057 shares of company stock valued at $12,824,040. Company insiders own 17.67% of the company’s stock.

Institutional Trading of Hovnanian Enterprises

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Hovnanian Enterprises during the 3rd quarter worth $33,000. Innealta Capital LLC acquired a new stake in shares of Hovnanian Enterprises during the second quarter worth about $37,000. FMR LLC lifted its holdings in shares of Hovnanian Enterprises by 20.6% in the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after purchasing an additional 59 shares during the last quarter. CWM LLC lifted its holdings in shares of Hovnanian Enterprises by 89.6% in the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after purchasing an additional 354 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of Hovnanian Enterprises by 309.9% in the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after purchasing an additional 626 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Down 0.6 %

Shares of HOV traded down $0.98 during midday trading on Tuesday, hitting $164.93. The company had a trading volume of 6,155 shares, compared to its average volume of 79,159. Hovnanian Enterprises has a 1 year low of $86.61 and a 1 year high of $240.34. The firm has a market capitalization of $997.83 million, a P/E ratio of 5.13 and a beta of 2.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. The company’s 50-day simple moving average is $192.79 and its 200-day simple moving average is $178.96.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data 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 during the quarter. During the same period last year, the firm posted $7.38 earnings per share. As a group, sell-side analysts expect that Hovnanian Enterprises will post 30 EPS for the current year.

Analyst Ratings Changes

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.