Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) traded down 4.9% during trading on Monday . The stock traded as low as $196.10 and last traded at $196.10. 13,029 shares changed hands during trading, a decline of 84% from the average session volume of 80,047 shares. The stock had previously closed at $206.24.
Wall Street Analyst Weigh In
Separately, StockNews.com cut Hovnanian Enterprises from a "buy" rating to a "hold" rating in a report on Friday, August 23rd.
View Our Latest Report on Hovnanian Enterprises
Hovnanian Enterprises Stock Performance
The company's 50 day simple moving average is $204.20 and its 200 day simple moving average is $174.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. The stock has a market cap of $1.14 billion, a PE ratio of 6.38 and a beta of 2.59.
Hovnanian Enterprises (NYSE:HOV - Get Free Report) last issued its quarterly earnings results on Thursday, August 22nd. The construction company reported $9.75 EPS for the quarter. The business had revenue of $722.70 million for the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. During the same quarter last year, the business posted $7.38 earnings per share. Analysts expect that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Ara K. Hovnanian sold 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $229.45, for a total transaction of $4,589,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,890 shares of the company's stock, valued at $2,957,610.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Edward A. Kangas sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the completion of the transaction, the director now directly owns 13,290 shares in the company, valued at approximately $2,509,949.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ara K. Hovnanian sold 20,000 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $229.45, for a total transaction of $4,589,000.00. Following the sale, the chief executive officer now directly owns 12,890 shares in the company, valued at $2,957,610.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,057 shares of company stock worth $12,824,040. Insiders own 17.67% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Hovnanian Enterprises during the third quarter worth about $33,000. Innealta Capital LLC bought a new position in shares of Hovnanian Enterprises in the second quarter worth approximately $37,000. CWM LLC increased its position in shares of Hovnanian Enterprises by 3,541.7% in the first quarter. CWM LLC now owns 437 shares of the construction company's stock worth $69,000 after purchasing an additional 425 shares during the last quarter. EntryPoint Capital LLC raised its stake in Hovnanian Enterprises by 309.9% in the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company's stock valued at $130,000 after purchasing an additional 626 shares in the last quarter. Finally, Creative Planning bought a new stake in Hovnanian Enterprises during the third quarter valued at approximately $202,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.
Hovnanian Enterprises Company Profile
(
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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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