Hovnanian Enterprises (NYSE:HOV) Stock Price Up 9.3%

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price rose 9.3% during trading on Thursday . The company traded as high as $153.92 and last traded at $153.49. Approximately 25,115 shares traded hands during trading, a decline of 69% from the average daily volume of 79,961 shares. The stock had previously closed at $140.37.

Analyst Ratings Changes

Several brokerages recently weighed in on HOV. StockNews.com upgraded shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd. Zelman & Associates raised 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 note on Thursday, May 23rd.

Hovnanian Enterprises Trading Up 11.1 %

The firm has a market cap of $934.14 million, a P/E ratio of 5.20 and a beta of 2.58. The company’s 50 day simple moving average is $150.81 and its 200-day simple moving average is $151.74. The company has a quick ratio of 0.32, a current ratio of 1.35 and a debt-to-equity ratio of 0.17.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Wednesday, May 22nd. The construction company reported $6.66 EPS for the quarter. The company 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 predict that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current fiscal year.

Insider Buying and Selling at Hovnanian Enterprises

In other news, Director Robin Stone Sellers sold 1,459 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $154.20, for a total value of $224,977.80. Following the completion of the sale, the director now owns 22,716 shares of the company’s stock, valued at approximately $3,502,807.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robin Stone Sellers sold 1,459 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $154.20, for a total value of $224,977.80. Following the sale, the director now owns 22,716 shares in the company, valued at $3,502,807.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward A. Kangas sold 2,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $144.72, for a total transaction of $289,440.00. Following the transaction, the director now owns 21,743 shares of the company’s stock, valued at $3,146,646.96. The disclosure for this sale can be found here. Insiders have sold 33,816 shares of company stock worth $4,820,417 over the last quarter. Insiders own 17.67% of the company’s stock.

Institutional Trading of Hovnanian Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Hovnanian Enterprises by 6.1% during the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock valued at $44,011,000 after buying an additional 16,012 shares during the period. Dimensional Fund Advisors LP increased its holdings in Hovnanian Enterprises by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 181,338 shares of the construction company’s stock worth $28,221,000 after acquiring an additional 1,433 shares in the last quarter. American Century Companies Inc. raised its position in Hovnanian Enterprises by 25.5% during the third quarter. American Century Companies Inc. now owns 81,645 shares of the construction company’s stock worth $8,300,000 after acquiring an additional 16,575 shares during the period. Assenagon Asset Management S.A. raised its position in Hovnanian Enterprises by 1.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 66,182 shares of the construction company’s stock worth $10,299,000 after acquiring an additional 789 shares during the period. Finally, UBS Group AG lifted its holdings in Hovnanian Enterprises by 17.4% during the fourth quarter. UBS Group AG now owns 53,332 shares of the construction company’s stock valued at $8,300,000 after purchasing an additional 7,900 shares in the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

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.