Insider Selling: Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Sells $2,915,577.28 in Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 13,552 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $215.14, for a total transaction of $2,915,577.28. Following the transaction, the chief executive officer now directly owns 47,279 shares in the company, valued at approximately $10,171,604.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hovnanian Enterprises Stock Up 0.4 %

HOV opened at $224.37 on Friday. Hovnanian Enterprises, Inc. has a fifty-two week low of $65.22 and a fifty-two week high of $240.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. The firm’s fifty day moving average price is $196.91 and its two-hundred day moving average price is $165.41. The company has a market capitalization of $1.34 billion, a P/E ratio of 7.48 and a beta of 2.64.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. The firm had revenue of $722.70 million for the quarter. During the same quarter in the prior year, the firm earned $7.38 EPS. On average, analysts anticipate that Hovnanian Enterprises, Inc. will post 30 EPS for the current year.

Wall Street Analysts Forecast Growth

HOV has been the topic of a number of research reports. Zelman & Associates raised shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 target price on the stock in a research report on Thursday, May 23rd. StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd.

Institutional Investors Weigh In On Hovnanian Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Hovnanian Enterprises in the 2nd quarter valued at $37,000. CWM LLC lifted its position in Hovnanian Enterprises by 3,541.7% during the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after buying an additional 425 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Hovnanian Enterprises by 27.4% during the 4th quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock worth $123,000 after buying an additional 170 shares in the last quarter. EntryPoint Capital LLC lifted its position in Hovnanian Enterprises by 309.9% during the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after buying an additional 626 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Hovnanian Enterprises during the 2nd quarter worth about $156,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

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.