Hovnanian Enterprises (NYSE:HOV) Trading Down 5.1% - Time to Sell?

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) traded down 5.1% during trading on Thursday . The stock traded as low as $126.52 and last traded at $127.03. 46,480 shares were traded during mid-day trading, a decline of 43% from the average session volume of 81,266 shares. The stock had previously closed at $133.82.

Analysts Set New Price Targets

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

Hovnanian Enterprises Price Performance

The company has a fifty day simple moving average of $166.29 and a two-hundred day simple moving average of $179.75. The stock has a market capitalization of $774.64 million, a price-to-earnings ratio of 3.99 and a beta of 2.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45.

Insider Activity at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 644 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $8,898,368.65. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward A. Kangas sold 1,500 shares of the business's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $188.86, for a total value of $283,290.00. Following the transaction, the director now directly owns 13,290 shares of the company's stock, valued at $2,509,949.40. This trade represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. 17.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Hovnanian Enterprises in the 3rd quarter valued at $33,000. FMR LLC raised its position in Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company's stock valued at $71,000 after purchasing an additional 59 shares during the last quarter. CWM LLC boosted its stake in shares of Hovnanian Enterprises by 89.6% during the third quarter. CWM LLC now owns 749 shares of the construction company's stock valued at $153,000 after purchasing an additional 354 shares in the last quarter. Creative Planning acquired a new stake 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 during the third quarter worth about $205,000. Institutional investors own 65.40% of the company's stock.

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.