Hovnanian Enterprises (NYSE:HOV) Shares Gap Down – Time to Sell?

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) gapped down prior to trading on Thursday . The stock had previously closed at $133.05, but opened at $129.72. Hovnanian Enterprises shares last traded at $136.37, with a volume of 22,634 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wedbush restated a “neutral” rating and set a $155.00 price objective on shares of Hovnanian Enterprises in a research note on Monday. StockNews.com downgraded shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

Hovnanian Enterprises Stock Up 1.3 %

The firm has a market cap of $816.15 million, a PE ratio of 4.20 and a beta of 2.62. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $178.94 and a two-hundred day simple moving average of $181.31.

Insiders Place Their Bets

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 1,500 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the transaction, the director now directly owns 13,290 shares in the company, valued at approximately $2,509,949.40. This trade represents a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $109,253.25. Following the completion of the transaction, the director now directly owns 21,033 shares in the company, valued at $4,327,539.75. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,675 shares of company stock worth $1,326,791. 17.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of hedge funds have recently bought and sold shares of HOV. B. Riley Wealth Advisors Inc. bought a new stake in Hovnanian Enterprises in the third quarter worth about $205,000. Franklin Resources Inc. increased its stake in shares of Hovnanian Enterprises by 4.7% during the third quarter. Franklin Resources Inc. now owns 14,912 shares of the construction company’s stock valued at $2,926,000 after buying an additional 669 shares during the period. Sanctuary Advisors LLC purchased a new stake in Hovnanian Enterprises in the third quarter worth about $647,000. Virtu Financial LLC bought a new position in Hovnanian Enterprises during the 3rd quarter worth about $347,000. Finally, Barclays PLC lifted its position in shares of Hovnanian Enterprises by 352.6% in the 3rd quarter. Barclays PLC now owns 8,274 shares of the construction company’s stock worth $1,691,000 after purchasing an additional 6,446 shares during the period. 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.