Hovnanian Enterprises, Inc. (NYSE:HOV) Director Sells $666,200.00 in Stock

Hovnanian Enterprises, Inc. (NYSE:HOV – Get Rating) Director Edward A. Kangas sold 10,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $66.62, for a total transaction of $666,200.00. Following the sale, the director now directly owns 36,257 shares in the company, valued at $2,415,441.34. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Hovnanian Enterprises Price Performance

NYSE:HOV opened at $65.03 on Friday. Hovnanian Enterprises, Inc. has a 52-week low of $33.20 and a 52-week high of $78.20. The company has a market cap of $387.58 million, a P/E ratio of 2.27 and a beta of 2.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 1.21. The stock’s 50-day simple moving average is $59.49 and its 200 day simple moving average is $48.05.

Hovnanian Enterprises (NYSE:HOV – Get Rating) last posted its quarterly earnings results on Thursday, December 8th. The construction company reported $8.56 earnings per share for the quarter. Hovnanian Enterprises had a return on equity of 112.54% and a net margin of 7.64%. The firm had revenue of $886.79 million during the quarter.

Hedge Funds Weigh In On Hovnanian Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in HOV. Swiss National Bank lifted its stake in Hovnanian Enterprises by 8.2% in the first quarter. Swiss National Bank now owns 11,900 shares of the construction company’s stock valued at $703,000 after acquiring an additional 900 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Hovnanian Enterprises by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 34,255 shares of the construction company’s stock worth $2,024,000 after purchasing an additional 1,496 shares during the period. Bank of Montreal Can grew its holdings in Hovnanian Enterprises by 189.1% during the first quarter. Bank of Montreal Can now owns 29,080 shares of the construction company’s stock worth $1,865,000 after purchasing an additional 19,020 shares during the period. MetLife Investment Management LLC increased its position in Hovnanian Enterprises by 58.5% during the first quarter. MetLife Investment Management LLC now owns 3,048 shares of the construction company’s stock worth $180,000 after buying an additional 1,125 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Hovnanian Enterprises by 8.4% in the first quarter. Rhumbline Advisers now owns 6,777 shares of the construction company’s stock valued at $401,000 after buying an additional 526 shares during the period. 44.59% of the stock is owned by institutional investors.

About Hovnanian Enterprises

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Hovnanian Enterprises, Inc is a homebuilding company, which engages in the design, construction, and marketing of single-family attached town homes, attached townhomes and condominiums, urban infill, and lifestyle homes in planned residential developments. It operates through the following segments: Northeast, Southeast, and West.