Insider Selling: Hovnanian Enterprises, Inc. (NYSE:HOV) Director Sells 1,459 Shares of Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) Director Robin Stone Sellers sold 1,459 shares of the firm’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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link.

Hovnanian Enterprises Stock Down 3.8 %

HOV opened at $147.77 on Monday. The stock’s fifty day simple moving average is $151.33 and its 200 day simple moving average is $150.49. Hovnanian Enterprises, Inc. has a 1-year low of $65.22 and a 1-year high of $184.42. The stock has a market cap of $885.14 million, a PE ratio of 4.93 and a beta of 2.45. The company has a current ratio of 1.35, a quick ratio of 0.32 and a debt-to-equity ratio of 0.17.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HOV. CWM LLC boosted its holdings in shares of Hovnanian Enterprises by 3,541.7% during the first quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after acquiring an additional 425 shares during the period. AJOVista LLC acquired a new stake in Hovnanian Enterprises during the 4th quarter worth approximately $97,000. DekaBank Deutsche Girozentrale bought a new stake in Hovnanian Enterprises in the 3rd quarter valued at $66,000. Russell Investments Group Ltd. grew its holdings 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. Finally, EntryPoint Capital LLC increased 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 during the period. 65.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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