Ara K. Hovnanian Sells 4,548 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 4,548 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $146.66, for a total value of $667,009.68. Following the completion of the sale, the chief executive officer now owns 60,982 shares of the company’s stock, valued at approximately $8,943,620.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hovnanian Enterprises Price Performance

HOV opened at $139.99 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.32. The stock’s 50 day simple moving average is $152.01 and its 200 day simple moving average is $152.38. The firm has a market cap of $838.54 million, a price-to-earnings ratio of 4.67 and a beta of 2.45. Hovnanian Enterprises, Inc. has a 1 year low of $65.22 and a 1 year high of $184.42.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Wednesday, May 22nd. The construction company reported $6.66 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. The firm had revenue of $708.38 million for the quarter. As a group, analysts predict that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current year.

Hedge Funds Weigh In On Hovnanian Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in Hovnanian Enterprises by 588.9% during the 4th quarter. SG Americas Securities LLC now owns 14,873 shares of the construction company’s stock valued at $2,315,000 after purchasing an additional 12,714 shares during the period. UBS Group AG raised its holdings in shares of Hovnanian Enterprises by 8.4% during the third quarter. UBS Group AG now owns 45,432 shares of the construction company’s stock valued at $4,619,000 after acquiring an additional 3,528 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Hovnanian Enterprises in the fourth quarter worth $1,460,000. Trexquant Investment LP bought a new stake in Hovnanian Enterprises in the third quarter valued at $447,000. Finally, American Century Companies Inc. increased its position in Hovnanian Enterprises by 25.5% during the 3rd quarter. American Century Companies Inc. now owns 81,645 shares of the construction company’s stock valued at $8,300,000 after purchasing an additional 16,575 shares during the period. 65.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com raised shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Zelman & Associates raised shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price target for the company in a research note on Thursday, May 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.