Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian Sells 644 Shares

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 644 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 45,635 shares in the company, valued at $8,898,368.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hovnanian Enterprises Stock Performance

Shares of HOV stock opened at $210.23 on Thursday. The company has a market cap of $1.26 billion, a P/E ratio of 7.01 and a beta of 2.59. The business has a 50 day moving average of $203.24 and a two-hundred day moving average of $173.22. Hovnanian Enterprises, Inc. has a 52 week low of $65.22 and a 52 week high of $240.34. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, August 22nd. The construction company reported $9.75 earnings per share (EPS) for the quarter. The business had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. During the same quarter in the prior year, the firm earned $7.38 EPS. As a group, analysts anticipate that Hovnanian Enterprises, Inc. will post 30 EPS for the current year.

Hedge Funds Weigh In On Hovnanian Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Hovnanian Enterprises in the 2nd quarter worth about $37,000. CWM LLC increased its stake in shares of Hovnanian Enterprises by 3,541.7% in the first quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after purchasing an additional 425 shares during the period. EntryPoint Capital LLC raised its holdings in shares of Hovnanian Enterprises by 309.9% during the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after buying an additional 626 shares during the last quarter. Creative Planning bought a new stake in shares of Hovnanian Enterprises during the third quarter valued at approximately $202,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Hovnanian Enterprises during the second quarter worth approximately $156,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd.

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.