Jane Street Group LLC Sells 4,075 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Jane Street Group LLC cut its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 40.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,063 shares of the construction company's stock after selling 4,075 shares during the quarter. Jane Street Group LLC owned 0.10% of Hovnanian Enterprises worth $1,239,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Stifel Financial Corp boosted its stake in shares of Hovnanian Enterprises by 48.9% during the 3rd quarter. Stifel Financial Corp now owns 4,848 shares of the construction company's stock worth $991,000 after acquiring an additional 1,593 shares in the last quarter. Quadrature Capital Ltd bought a new position in Hovnanian Enterprises during the third quarter valued at approximately $502,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in Hovnanian Enterprises in the third quarter valued at approximately $17,449,000. Point72 Asset Management L.P. bought a new stake in Hovnanian Enterprises in the third quarter worth approximately $687,000. Finally, Centiva Capital LP acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter worth $635,000. Institutional investors and hedge funds own 65.40% of the company's stock.

Insider Activity at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 644 shares of the company's stock in a transaction dated Monday, October 14th. The shares were 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 represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vincent Pagano, Jr. sold 3,000 shares of Hovnanian Enterprises stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $201.11, for a total transaction of $603,330.00. Following the transaction, the director now directly owns 24,552 shares of the company's stock, valued at $4,937,652.72. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,144 shares of company stock worth $1,012,194 over the last three months. Company insiders own 17.67% of the company's stock.

Hovnanian Enterprises Stock Performance

Hovnanian Enterprises stock traded down $1.26 during trading hours on Friday, reaching $133.27. 66,724 shares of the company were exchanged, compared to its average volume of 81,278. Hovnanian Enterprises, Inc. has a 12 month low of $125.63 and a 12 month high of $240.34. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market cap of $806.95 million, a price-to-earnings ratio of 4.15 and a beta of 2.62. The stock has a 50-day moving average of $170.06 and a 200 day moving average of $180.47.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed 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 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.