Hovnanian Enterprises (NYSE:HOV) Shares Gap Down – Time to Sell?

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) gapped down prior to trading on Thursday . The stock had previously closed at $133.05, but opened at $129.72. Hovnanian Enterprises shares last traded at $136.37, with a volume of 22,634 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Wedbush reaffirmed a “neutral” rating and set a $155.00 price objective on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Price Performance

The company’s 50 day moving average price is $177.82 and its 200 day moving average price is $180.97. 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 has a market cap of $816.46 million, a price-to-earnings ratio of 4.20 and a beta of 2.62.

Insider Buying and Selling at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 123 shares of the firm’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 in the company, valued at approximately $10,380,450.28. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the transaction, the director now directly owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. This represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,675 shares of company stock worth $1,326,791 over the last ninety days. Corporate insiders own 17.67% of the company’s stock.

Institutional Trading of Hovnanian Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. bought a new position in Hovnanian Enterprises in the third quarter valued at about $205,000. Franklin Resources Inc. lifted its position in Hovnanian Enterprises by 4.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,912 shares of the construction company’s stock valued at $2,926,000 after purchasing an additional 669 shares during the period. Sanctuary Advisors LLC acquired a new position in Hovnanian Enterprises during the 3rd quarter valued at about $647,000. Virtu Financial LLC bought a new position in shares of Hovnanian Enterprises in the 3rd quarter valued at about $347,000. Finally, Barclays PLC grew its position in shares of Hovnanian Enterprises by 352.6% during the 3rd quarter. Barclays PLC now owns 8,274 shares of the construction company’s stock worth $1,691,000 after buying an additional 6,446 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.