Royce & Associates LP Sells 5,000 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Royce & Associates LP decreased its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 17.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,200 shares of the construction company’s stock after selling 5,000 shares during the period. Royce & Associates LP’s holdings in Hovnanian Enterprises were worth $4,946,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HOV. Allspring Global Investments Holdings LLC bought a new position in Hovnanian Enterprises in the 3rd quarter valued at $33,000. Innealta Capital LLC bought a new position in Hovnanian Enterprises in the second quarter valued at about $37,000. EntryPoint Capital LLC increased its position in Hovnanian Enterprises by 309.9% in the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after purchasing an additional 626 shares during the period. CWM LLC raised its holdings in Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after purchasing an additional 354 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Hovnanian Enterprises during the 2nd quarter valued at about $156,000. Institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Down 1.2 %

NYSE:HOV opened at $165.91 on Tuesday. 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, Inc. has a 12-month low of $86.61 and a 12-month high of $240.34. The stock’s fifty day simple moving average is $192.79 and its 200-day simple moving average is $178.96. The firm has a market capitalization of $1.00 billion, a P/E ratio of 5.13 and a beta of 2.60.

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

Insider Activity at Hovnanian Enterprises

In related news, CEO Ara K. Hovnanian sold 20,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $229.45, for a total value 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. This represents a 60.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward A. Kangas sold 1,500 shares of Hovnanian Enterprises stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $188.86, for a total value of $283,290.00. Following the transaction, the director now owns 13,290 shares in the company, valued at approximately $2,509,949.40. This represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,057 shares of company stock worth $12,824,040. 17.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.