Hovnanian Enterprises, Inc. (NYSE:HOV) Short Interest Down 5.7% in December

Hovnanian Enterprises, Inc. (NYSE:HOV) saw a large drop in short interest in December. As of December 15th, there was short interest totalling 193,500 shares, a drop of 5.7% from the November 30th total of 205,100 shares. Based on an average daily volume of 78,400 shares, the short-interest ratio is currently 2.5 days. Currently, 4.4% of the shares of the stock are short sold.

Hovnanian Enterprises Price Performance

Shares of NYSE:HOV opened at $133.82 on Thursday. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $167.20 and a 200 day moving average price of $180.11. Hovnanian Enterprises has a 52 week low of $125.63 and a 52 week high of $240.34. The company has a market cap of $809.61 million, a P/E ratio of 4.17 and a beta of 2.62.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated a “neutral” rating and issued a $155.00 price objective on shares of Hovnanian Enterprises in a research report on Monday, December 16th.

Insider Buying and Selling at Hovnanian Enterprises

In other news, Director Edward A. Kangas sold 1,500 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the completion of the sale, the director now directly owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. This represents a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ara K. Hovnanian sold 644 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $194.99, for a total value of $125,573.56. Following the sale, the chief executive officer now directly owns 45,635 shares of the company’s stock, valued at $8,898,368.65. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.67% of the stock is currently owned by insiders.

Institutional Trading of Hovnanian Enterprises

A number of institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in Hovnanian Enterprises in the third quarter worth $687,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Hovnanian Enterprises by 92.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock valued at $10,212,000 after purchasing an additional 23,990 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of Hovnanian Enterprises in the second quarter valued at about $352,000. Victory Capital Management Inc. lifted its stake in shares of Hovnanian Enterprises by 88.1% in the second quarter. Victory Capital Management Inc. now owns 14,334 shares of the construction company’s stock valued at $2,034,000 after purchasing an additional 6,715 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Hovnanian Enterprises during the third quarter worth about $33,000. 65.40% of the stock is currently 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.