Hovnanian Enterprises (NYSE:HOV) CEO Ara Hovnanian Sells 12,880 Shares of Stock

Hovnanian Enterprises Inc (NYSE:HOV) CEO Ara Hovnanian sold 12,880 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $125.78, for a total transaction of $1,620,046.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hovnanian Enterprises Stock Performance

NYSE:HOV opened at $141.64 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.40 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $830.03 million, a price-to-earnings ratio of 38.91 and a beta of 1.84. The firm’s fifty day simple moving average is $113.09 and its 200 day simple moving average is $113.00. Hovnanian Enterprises Inc has a twelve month low of $91.52 and a twelve month high of $162.05.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Thursday, May 21st. The construction company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.04) by $1.58. Hovnanian Enterprises had a net margin of 1.25% and a return on equity of 11.23%. The firm had revenue of $667.65 million during the quarter, compared to analysts’ expectations of $626.40 million.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HOV shares. Weiss Ratings lowered Hovnanian Enterprises from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Wall Street Zen raised Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Citizens Jmp assumed coverage on Hovnanian Enterprises in a report on Thursday, April 9th. They issued a “market underperform” rating and a $74.00 price target for the company. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $97.00.

Institutional Investors Weigh In On Hovnanian Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOV. Osaic Holdings Inc. boosted its position in Hovnanian Enterprises by 72.1% in the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock valued at $45,000 after buying an additional 181 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Hovnanian Enterprises by 614.1% during the second quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock worth $58,000 after acquiring an additional 479 shares during the last quarter. State of Wyoming purchased a new stake in shares of Hovnanian Enterprises during the first quarter worth about $62,000. International Assets Investment Management LLC acquired a new position in shares of Hovnanian Enterprises in the fourth quarter worth about $117,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Hovnanian Enterprises by 38.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,369 shares of the construction company’s stock worth $134,000 after acquiring an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.