Hovnanian Enterprises (NYSE:HOV) Shares Down 2.5% on Insider Selling

Hovnanian Enterprises, Inc. (NYSE:HOV) fell 2.5% during trading on Friday following insider selling activity. The company traded as low as $192.47 and last traded at $194.18. 8,215 shares changed hands during trading, a decline of 90% from the average session volume of 81,157 shares. The stock had previously closed at $199.06.

Specifically, Director Vincent Pagano, Jr. sold 3,000 shares of Hovnanian Enterprises stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $201.11, for a total transaction of $603,330.00. Following the sale, the director now owns 24,552 shares in the company, valued at $4,937,652.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ara K. Hovnanian sold 877 shares of Hovnanian Enterprises stock in a transaction on Friday, September 27th. The stock was sold at an average price of $203.27, for a total transaction of $178,267.79. Following the sale, the chief executive officer now directly owns 46,279 shares in the company, valued at $9,407,132.33. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Robin Stone Sellers sold 531 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $205.75, for a total transaction of $109,253.25. Following the completion of the sale, the director now directly owns 21,033 shares in the company, valued at $4,327,539.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd.

Hovnanian Enterprises Price Performance

The business has a 50 day simple moving average of $202.58 and a 200-day simple moving average of $170.52. The company has a market capitalization of $1.19 billion, a P/E ratio of 6.60 and a beta of 2.59. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20.

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

Hedge Funds Weigh In On Hovnanian Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. boosted its position in Hovnanian Enterprises by 2.9% during the second quarter. Meeder Asset Management Inc. now owns 2,223 shares of the construction company’s stock valued at $315,000 after purchasing an additional 63 shares during the last quarter. Range Financial Group LLC lifted its holdings in shares of Hovnanian Enterprises by 2.6% during the 2nd quarter. Range Financial Group LLC now owns 4,595 shares of the construction company’s stock valued at $652,000 after buying an additional 117 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Hovnanian Enterprises by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company’s stock valued at $274,000 after buying an additional 145 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Hovnanian Enterprises by 2.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,917 shares of the construction company’s stock worth $1,243,000 after buying an additional 188 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Hovnanian Enterprises during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.