Insider Selling: Hovnanian Enterprises, Inc. (NYSE:HOV) Director Sells $928,840.00 in Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) Director Edward A. Kangas sold 4,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $232.21, for a total value of $928,840.00. Following the transaction, the director now owns 14,790 shares in the company, valued at $3,434,385.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Hovnanian Enterprises Trading Down 2.7 %

Shares of HOV stock opened at $215.25 on Thursday. The business has a 50-day moving average of $177.43 and a 200 day moving average of $160.33. 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, Inc. has a 1-year low of $65.22 and a 1-year high of $240.34. The stock has a market capitalization of $1.29 billion, a PE ratio of 7.18 and a beta of 2.58.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Hovnanian Enterprises

A number of large investors have recently added to or reduced their stakes in HOV. Foundry Partners LLC purchased a new stake in Hovnanian Enterprises in the first quarter worth $4,259,000. Vanguard Group Inc. grew 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. Dynamic Technology Lab Private Ltd bought a new position in shares of Hovnanian Enterprises in the 4th quarter worth approximately $1,460,000. Nisa Investment Advisors LLC lifted its stake in shares of Hovnanian Enterprises by 425,175.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 17,011 shares of the construction company’s stock valued at $2,414,000 after purchasing an additional 17,007 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Hovnanian Enterprises by 2,143.3% during the second quarter. SG Americas Securities LLC now owns 14,402 shares of the construction company’s stock valued at $2,044,000 after purchasing an additional 13,760 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

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.