Victory Capital Management Inc. Sells 10,920 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Victory Capital Management Inc. trimmed its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 76.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,414 shares of the construction company's stock after selling 10,920 shares during the period. Victory Capital Management Inc. owned 0.06% of Hovnanian Enterprises worth $698,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Hovnanian Enterprises during the 3rd quarter worth approximately $33,000. Innealta Capital LLC acquired a new position in Hovnanian Enterprises in the 2nd quarter valued at $37,000. CWM LLC raised its holdings in Hovnanian Enterprises by 89.6% in the 3rd quarter. CWM LLC now owns 749 shares of the construction company's stock valued at $153,000 after acquiring an additional 354 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Hovnanian Enterprises in the 2nd quarter valued at $156,000. Finally, Creative Planning acquired a new position in Hovnanian Enterprises in the 3rd quarter valued at $202,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Hovnanian Enterprises Price Performance

HOV stock traded up $6.09 during midday trading on Friday, reaching $196.61. 36,649 shares of the stock were exchanged, compared to its average volume of 79,156. The stock has a market capitalization of $1.19 billion, a PE ratio of 6.03 and a beta of 2.60. Hovnanian Enterprises, Inc. has a 52 week low of $87.78 and a 52 week high of $240.34. 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 company has a fifty day moving average price of $188.53 and a 200 day moving average price of $179.92.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Hovnanian Enterprises from a "buy" rating to a "hold" rating in a report on Friday, August 23rd.

Insider Buying and Selling

In related news, Director Robin Stone Sellers sold 531 shares of the company's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $205.75, for a total transaction of $109,253.25. Following the transaction, the director now directly owns 21,033 shares of the company's stock, valued at approximately $4,327,539.75. This represents a 2.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ara K. Hovnanian sold 123 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was 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 trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,289 shares of company stock worth $5,158,796 in the last 90 days. Insiders own 17.67% of the company's stock.

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.