Short Interest in Hovnanian Enterprises, Inc. (NYSE:HOV) Rises By 58.7%

Hovnanian Enterprises, Inc. (NYSE:HOV) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totalling 249,500 shares, a growth of 58.7% from the June 15th total of 157,200 shares. Based on an average trading volume of 76,500 shares, the short-interest ratio is currently 3.3 days. Approximately 5.5% of the company’s stock are short sold.

Insider Activity at Hovnanian Enterprises

In related news, Director Robin Stone Sellers sold 1,459 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $154.20, for a total value of $224,977.80. Following the sale, the director now directly owns 22,716 shares of the company’s stock, valued at $3,502,807.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hovnanian Enterprises news, Director Robin Stone Sellers sold 1,459 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $154.20, for a total transaction of $224,977.80. Following the completion of the sale, the director now owns 22,716 shares in the company, valued at $3,502,807.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Edward A. Kangas sold 2,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $144.72, for a total transaction of $289,440.00. Following the sale, the director now owns 21,743 shares of the company’s stock, valued at approximately $3,146,646.96. The disclosure for this sale can be found here. Insiders have sold 33,816 shares of company stock valued at $4,820,417 over the last ninety days. Corporate insiders own 17.67% of the company’s stock.

Hedge Funds Weigh In On Hovnanian Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its position in Hovnanian Enterprises by 27.4% in the 4th quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock valued at $123,000 after buying an additional 170 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Hovnanian Enterprises by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,917 shares of the construction company’s stock valued at $1,243,000 after buying an additional 188 shares in the last quarter. Principal Financial Group Inc. grew its position in Hovnanian Enterprises by 11.8% in the 1st quarter. Principal Financial Group Inc. now owns 2,971 shares of the construction company’s stock valued at $466,000 after buying an additional 313 shares in the last quarter. CWM LLC grew its position in Hovnanian Enterprises by 3,541.7% in the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after buying an additional 425 shares in the last quarter. Finally, AJOVista LLC bought a new position in Hovnanian Enterprises in the 4th quarter valued at about $97,000. Institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Up 1.8 %

Hovnanian Enterprises stock opened at $158.70 on Monday. The company has a 50-day simple moving average of $150.90 and a 200-day simple moving average of $151.74. The firm has a market capitalization of $950.61 million, a P/E ratio of 5.29 and a beta of 2.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.32 and a current ratio of 1.35. Hovnanian Enterprises has a one year low of $65.22 and a one year high of $184.42.

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

Analyst Ratings Changes

HOV has been the subject of several recent research reports. StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Thursday. Zelman & Associates upgraded 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 report on Thursday, May 23rd.

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.