Hovnanian Enterprises (NYSE:HOV) Sets New 1-Year Low - What's Next?

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $120.51 and last traded at $123.86, with a volume of 68034 shares changing hands. The stock had previously closed at $125.91.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a "neutral" rating and set a $155.00 price objective on shares of Hovnanian Enterprises in a research report on Monday, December 16th.

Hovnanian Enterprises Price Performance

The firm has a market capitalization of $749.97 million, a PE ratio of 3.86 and a beta of 2.70. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. The firm has a 50-day simple moving average of $161.24 and a 200-day simple moving average of $179.08.

Insider Activity

In other news, Director Edward A. Kangas sold 1,500 shares of the firm's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the sale, the director now directly owns 13,290 shares in the company, valued at $2,509,949.40. This trade represents a 10.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ara K. Hovnanian sold 644 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now directly owns 45,635 shares of the company's stock, valued at $8,898,368.65. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.67% of the company's stock.

Institutional Investors Weigh In On Hovnanian Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Hovnanian Enterprises in the third quarter worth $33,000. FMR LLC lifted its stake in Hovnanian Enterprises by 20.6% in the 3rd quarter. FMR LLC now owns 346 shares of the construction company's stock worth $71,000 after purchasing an additional 59 shares in the last quarter. CWM LLC boosted its holdings in shares of Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company's stock valued at $153,000 after purchasing an additional 354 shares during the last quarter. Creative Planning purchased a new position in shares of Hovnanian Enterprises during the third quarter valued at about $202,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Hovnanian Enterprises in the third quarter worth about $205,000. 65.40% of the stock is owned by institutional investors.

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.