Hovnanian Enterprises (NYSE:HOV) Stock Price Up 7.6%

Hovnanian Enterprises, Inc. (NYSE:HOV) traded up 7.6% on Friday . The company traded as high as $222.01 and last traded at $219.57. 19,970 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 81,441 shares. The stock had previously closed at $204.09.

Analyst Ratings Changes

Several research firms have issued reports on HOV. StockNews.com raised Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Zelman & Associates raised Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 target price on the stock in a research report on Thursday, May 23rd.

Hovnanian Enterprises Stock Performance

The company has a current ratio of 1.35, a quick ratio of 0.32 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $154.10 and its 200 day moving average price is $153.85. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 7.18 and a beta of 2.58.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Wednesday, May 22nd. The construction company reported $6.66 EPS for the quarter. Hovnanian Enterprises had a return on equity of 54.85% and a net margin of 8.02%. The business had revenue of $708.38 million during the quarter. Analysts expect that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current year.

Insider Buying and Selling at Hovnanian Enterprises

In related news, CEO Ara K. Hovnanian sold 4,548 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $146.66, for a total transaction of $667,009.68. Following the transaction, the chief executive officer now directly owns 60,982 shares of the company’s stock, valued at $8,943,620.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Ara K. Hovnanian sold 4,548 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $146.66, for a total value of $667,009.68. Following the completion of the sale, the chief executive officer now directly owns 60,982 shares in the company, valued at $8,943,620.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robin Stone Sellers sold 1,459 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $154.20, for a total value of $224,977.80. Following the sale, the director now directly owns 22,716 shares in the company, valued at approximately $3,502,807.20. The disclosure for this sale can be found here. Insiders have sold a total of 47,816 shares of company stock valued at $6,966,617 in the last ninety days. 17.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its holdings in shares of Hovnanian Enterprises by 3,541.7% during the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after acquiring an additional 425 shares in the last quarter. AJOVista LLC bought a new stake in shares of Hovnanian Enterprises during the fourth quarter worth about $97,000. Russell Investments Group Ltd. increased its stake in shares of Hovnanian Enterprises by 27.4% in the fourth quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock valued at $123,000 after buying an additional 170 shares during the period. EntryPoint Capital LLC raised its holdings in Hovnanian Enterprises by 309.9% in the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after buying an additional 626 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Hovnanian Enterprises during the 4th quarter worth approximately $200,000. Institutional investors and hedge funds 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.