Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian Sells 24,686 Shares

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 24,686 shares of Hovnanian Enterprises stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $141.04, for a total value of $3,481,713.44. Following the transaction, the chief executive officer now directly owns 32,890 shares in the company, valued at approximately $4,638,805.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Hovnanian Enterprises Stock Up 1.4 %

Shares of Hovnanian Enterprises stock opened at $141.92 on Monday. The firm has a market cap of $850.10 million, a price-to-earnings ratio of 4.73 and a beta of 2.45. The stock has a 50-day simple moving average of $152.24 and a 200-day simple moving average of $152.51. Hovnanian Enterprises, Inc. has a 52-week low of $65.22 and a 52-week high of $184.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.32.

Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Wednesday, May 22nd. The construction company reported $6.66 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. The firm had revenue of $708.38 million during the quarter. On average, equities research analysts expect that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HOV has been the topic of a number of research analyst reports. StockNews.com raised shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd. Zelman & Associates raised 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 note on Thursday, May 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in Hovnanian Enterprises by 3,541.7% during the first quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after acquiring an additional 425 shares during the period. AJOVista LLC acquired a new position in shares of Hovnanian Enterprises during the 4th quarter worth about $97,000. Russell Investments Group Ltd. boosted its stake in Hovnanian Enterprises by 27.4% during the 4th quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock valued at $123,000 after purchasing an additional 170 shares during the period. EntryPoint Capital LLC boosted its stake in Hovnanian Enterprises by 309.9% during 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. Finally, Barclays PLC grew its holdings in Hovnanian Enterprises by 78.6% in the 3rd quarter. Barclays PLC now owns 1,709 shares of the construction company’s stock valued at $173,000 after buying an additional 752 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.