Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian Sells 20,000 Shares of Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $229.45, for a total transaction of $4,589,000.00. Following the completion of the sale, the chief executive officer now owns 12,890 shares in the company, valued at $2,957,610.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hovnanian Enterprises Stock Performance

NYSE HOV opened at $229.27 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.32. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 7.64 and a beta of 2.58. The company’s fifty day moving average is $174.48 and its two-hundred day moving average is $159.51. Hovnanian Enterprises, Inc. has a 52-week low of $65.22 and a 52-week high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, August 22nd. The construction company reported $9.75 EPS for the quarter. The company had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. During the same period in the previous year, the business posted $7.38 earnings per share. Equities research analysts forecast that Hovnanian Enterprises, Inc. will post 27 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on HOV shares. Zelman & Associates upgraded shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price target on the stock in a research report on Thursday, May 23rd. StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday.

Hedge Funds Weigh In On Hovnanian Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in HOV. Foundry Partners LLC bought a new position in shares of Hovnanian Enterprises during the 1st quarter worth about $4,259,000. Bank of Montreal Can lifted its holdings in shares of Hovnanian Enterprises by 72.3% during the 2nd quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock worth $6,438,000 after acquiring an additional 19,031 shares during the period. American Century Companies Inc. lifted its holdings in shares of Hovnanian Enterprises by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock worth $19,008,000 after acquiring an additional 18,622 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Hovnanian Enterprises by 425,175.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,011 shares of the construction company’s stock worth $2,414,000 after acquiring an additional 17,007 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Hovnanian Enterprises by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock worth $44,011,000 after acquiring an additional 16,012 shares during the period. 65.40% of the stock is owned by institutional investors.

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.