Ara K. Hovnanian Sells 1,123 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 1,123 shares of Hovnanian Enterprises stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $140.05, for a total transaction of $157,276.15. Following the sale, the chief executive officer now owns 59,859 shares in the company, valued at $8,383,252.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hovnanian Enterprises Trading Up 1.2 %

NYSE:HOV opened at $141.70 on Friday. The company has a quick ratio of 0.32, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Hovnanian Enterprises, Inc. has a 1-year low of $65.22 and a 1-year high of $184.42. The firm has a market capitalization of $848.78 million, a price-to-earnings ratio of 4.72 and a beta of 2.45. The stock has a fifty day simple moving average of $152.24 and a 200 day simple moving average of $152.39.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Wednesday, May 22nd. The construction company reported $6.66 earnings per share for the quarter. The business had revenue of $708.38 million during the quarter. Hovnanian Enterprises had a return on equity of 54.85% and a net margin of 8.02%. Sell-side analysts forecast that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HOV shares. Zelman & Associates upgraded Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 target price for the company in a research report on Thursday, May 23rd. StockNews.com raised shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a report on Monday, June 3rd.

Institutional Investors Weigh In On Hovnanian Enterprises

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

Hovnanian Enterprises Company Profile

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.