Hovnanian Enterprises (NYSE:HOV) Trading Down 4.1% - Should You Sell?

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) fell 4.1% during mid-day trading on Monday . The company traded as low as $150.37 and last traded at $150.37. 38,421 shares traded hands during trading, a decline of 52% from the average session volume of 79,746 shares. The stock had previously closed at $156.86.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HOV. StockNews.com downgraded Hovnanian Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Wedbush reissued a "neutral" rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday.

Hovnanian Enterprises Stock Down 6.2 %

The company has a market capitalization of $891.30 million, a price-to-earnings ratio of 4.58 and a beta of 2.62. The firm's fifty day moving average price is $181.17 and its 200-day moving average price is $181.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27.

Insider Buying and Selling at Hovnanian Enterprises

In other news, Director Edward A. Kangas sold 1,500 shares of the stock in a transaction that occurred 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 owns 13,290 shares in the company, valued at $2,509,949.40. This represents a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J Larry Sorsby sold 4,062 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $225.61, for a total transaction of $916,427.82. Following the sale, the director now owns 127,982 shares in the company, valued at approximately $28,874,019.02. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,737 shares of company stock valued at $2,243,218 in the last 90 days. 17.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its stake in Hovnanian Enterprises by 425,175.0% during the second quarter. Nisa Investment Advisors LLC now owns 17,011 shares of the construction company's stock valued at $2,414,000 after acquiring an additional 17,007 shares in the last quarter. Summit Global Investments bought a new stake in Hovnanian Enterprises during the 2nd quarter valued at about $1,116,000. Bank of New York Mellon Corp lifted its holdings in Hovnanian Enterprises by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 35,054 shares of the construction company's stock valued at $4,975,000 after buying an additional 993 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Hovnanian Enterprises during the 2nd quarter worth approximately $37,000. Finally, Principal Financial Group Inc. raised its stake in shares of Hovnanian Enterprises by 11.0% during the 2nd quarter. Principal Financial Group Inc. now owns 3,298 shares of the construction company's stock worth $468,000 after acquiring an additional 327 shares in the last quarter. 65.40% of the stock is currently 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.