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
(
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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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