Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Sells $667,009.68 in Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 4,548 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $146.66, for a total value of $667,009.68. Following the completion of the sale, the chief executive officer now owns 60,982 shares of the company’s stock, valued at $8,943,620.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV opened at $141.70 on Friday. The stock has a market capitalization of $848.78 million, a P/E ratio of 4.72 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, Inc. has a 1-year low of $65.22 and a 1-year high of $184.42. The business has a 50-day moving average price of $152.24 and a two-hundred day moving average price of $152.39.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Wednesday, May 22nd. The construction company reported $6.66 earnings per share (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%. Equities analysts predict that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current year.

Analyst Upgrades and Downgrades

HOV has been the subject of several research reports. Zelman & Associates upgraded shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price objective for the company in a research report on Thursday, May 23rd. StockNews.com upgraded shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter worth about $66,000. CWM LLC boosted its stake 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 acquiring an additional 425 shares during the last quarter. AJOVista LLC acquired a new position in Hovnanian Enterprises during the fourth quarter valued at approximately $97,000. Russell Investments Group Ltd. increased its stake in Hovnanian Enterprises by 27.4% in the fourth quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock valued at $123,000 after purchasing an additional 170 shares in the last quarter. Finally, EntryPoint Capital LLC raised its holdings in Hovnanian Enterprises by 309.9% in the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after purchasing an additional 626 shares during the period. Institutional investors 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.