Hovnanian Enterprises (NYSE:HOV) Hits New 1-Year Low - Here's What Happened

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $125.38 and last traded at $128.04, with a volume of 91754 shares traded. The stock had previously closed at $133.82.

Analyst Upgrades and Downgrades

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

Hovnanian Enterprises Stock Performance

The firm has a market capitalization of $785.70 million, a price-to-earnings ratio of 4.04 and a beta of 2.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. The stock's fifty day moving average is $165.41 and its two-hundred day moving average is $179.58.

Insider Activity

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the sale, the director now 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 through the SEC website. Also, CEO Ara K. Hovnanian sold 644 shares of Hovnanian Enterprises stock in a transaction that occurred 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 sale, the chief executive officer now owns 45,635 shares in the company, valued at $8,898,368.65. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.67% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Hovnanian Enterprises by 98.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company's stock worth $6,023,000 after purchasing an additional 14,624 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Hovnanian Enterprises in the third quarter worth about $205,000. Franklin Resources Inc. increased its holdings in Hovnanian Enterprises by 4.7% in the third quarter. Franklin Resources Inc. now owns 14,912 shares of the construction company's stock valued at $2,926,000 after buying an additional 669 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Hovnanian Enterprises during the third quarter valued at approximately $647,000. Finally, Virtu Financial LLC bought a new position in Hovnanian Enterprises during the 3rd quarter worth approximately $347,000. 65.40% of the stock is currently owned by institutional investors.

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.