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Hovnanian Enterprises (NYSE:HOV) Shares Gap Down - Should You Sell?

Hovnanian Enterprises logo with Construction background

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $133.05, but opened at $129.72. Hovnanian Enterprises shares last traded at $136.37, with a volume of 22,634 shares changing hands.

Analyst Ratings Changes

HOV has been the topic of a number of recent research reports. StockNews.com lowered Hovnanian Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Wedbush reissued a "neutral" rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research report on Monday.

Get Our Latest Analysis on Hovnanian Enterprises

Hovnanian Enterprises Stock Down 0.3 %

The stock has a market capitalization of $803.07 million, a price-to-earnings ratio of 4.13 and a beta of 2.62. 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 business has a fifty day moving average of $178.94 and a 200 day moving average of $181.31.

Insider Activity

In other news, CEO Ara K. Hovnanian sold 123 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $220.13, for a total value of $27,075.99. Following the transaction, the chief executive officer now directly owns 47,156 shares in the company, valued at approximately $10,380,450.28. This represents a 0.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robin Stone Sellers sold 531 shares of the business's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $205.75, for a total value of $109,253.25. Following the completion of the sale, the director now directly owns 21,033 shares in the company, valued at approximately $4,327,539.75. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,675 shares of company stock valued at $1,326,791 in the last quarter. Insiders own 17.67% of the company's stock.

Hedge Funds Weigh In On Hovnanian Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of HOV. American Century Companies Inc. lifted its position in shares of Hovnanian Enterprises by 16.1% during the second quarter. American Century Companies Inc. now owns 133,933 shares of the construction company's stock worth $19,008,000 after purchasing an additional 18,622 shares in the last quarter. Forager Capital Management LLC boosted its position in Hovnanian Enterprises by 3.5% in the 3rd quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company's stock valued at $23,911,000 after buying an additional 4,000 shares during the period. Geode Capital Management LLC boosted its position in Hovnanian Enterprises by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company's stock valued at $22,882,000 after buying an additional 322 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Hovnanian Enterprises in the third quarter worth $17,449,000. Finally, Brightline Capital Management LLC increased its position in shares of Hovnanian Enterprises by 68.8% during the third quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company's stock worth $16,554,000 after acquiring an additional 33,000 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

About Hovnanian Enterprises

(Get Free Report)

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.

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