Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian Sells 13,552 Shares of Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 13,552 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $215.14, for a total transaction of $2,915,577.28. Following the transaction, the chief executive officer now directly owns 47,279 shares in the company, valued at $10,171,604.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hovnanian Enterprises Stock Up 4.7 %

HOV stock opened at $224.75 on Wednesday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 7.49 and a beta of 2.64. The company has a 50-day moving average of $193.55 and a two-hundred day moving average of $164.57. Hovnanian Enterprises, Inc. has a 52-week low of $65.22 and a 52-week high of $240.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings data on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. The business had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. During the same period in the prior year, the firm posted $7.38 EPS. As a group, equities research analysts anticipate that Hovnanian Enterprises, Inc. will post 30 EPS for the current year.

Institutional Investors Weigh In On Hovnanian Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of HOV. Foundry Partners LLC bought a new stake in Hovnanian Enterprises in the 1st quarter valued at $4,259,000. Vanguard Group Inc. lifted its stake in shares of Hovnanian Enterprises by 6.1% in the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock valued at $44,011,000 after buying an additional 16,012 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Hovnanian Enterprises during the fourth quarter valued at about $1,460,000. Nisa Investment Advisors LLC raised its holdings in 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 acquiring an additional 17,007 shares in the last quarter. Finally, Koss Olinger Consulting LLC bought a new stake in shares of Hovnanian Enterprises in the 2nd quarter worth approximately $467,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOV. Zelman & Associates raised Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price objective on the stock in a 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, August 23rd.

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.