Hovnanian Enterprises (NYSE:HOV) Hits New 12-Month Low – What’s Next?

Hovnanian Enterprises, Inc. (NYSE:HOV) reached a new 52-week low on Friday . The stock traded as low as $125.38 and last traded at $128.04, with a volume of 91754 shares trading hands. The stock had previously closed at $133.82.

Analysts Set New Price Targets

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

Hovnanian Enterprises Stock Down 4.3 %

The business’s 50 day simple moving average is $166.29 and its 200 day simple moving average is $179.75. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $774.64 million, a PE ratio of 3.99 and a beta of 2.62.

Insider Buying and Selling

In other news, Director Edward A. Kangas sold 1,500 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the sale, the director now 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Ara K. Hovnanian sold 644 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $194.99, for a total transaction of $125,573.56. Following the completion of the sale, the chief executive officer now owns 45,635 shares of the company’s stock, valued at $8,898,368.65. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. 17.67% of the stock is currently owned by company insiders.

Institutional Trading of Hovnanian Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Hovnanian Enterprises during the third quarter valued at approximately $33,000. FMR LLC boosted its holdings in Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after acquiring an additional 59 shares during the period. CWM LLC grew its position in Hovnanian Enterprises by 89.6% in the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after acquiring an additional 354 shares during the last quarter. Creative Planning purchased a new stake in Hovnanian Enterprises in the third quarter worth $202,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Hovnanian Enterprises during the third quarter worth $205,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

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.