Hovnanian Enterprises (NYSE:HOV) Trading Down 4.9% – Here’s Why

Hovnanian Enterprises, Inc. (NYSE:HOV) was down 4.9% during trading on Monday . The company traded as low as $196.10 and last traded at $196.10. Approximately 13,029 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 80,047 shares. The stock had previously closed at $206.24.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd.

Hovnanian Enterprises Trading Down 1.2 %

The firm has a 50 day simple moving average of $204.26 and a 200 day simple moving average of $174.55. 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 firm has a market cap of $1.06 billion, a P/E ratio of 5.86 and a beta of 2.59.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, August 22nd. The construction company reported $9.75 EPS for the quarter. The business had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. During the same quarter in the prior year, the business earned $7.38 EPS. On average, equities research analysts predict that Hovnanian Enterprises, Inc. will post 30 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ara K. Hovnanian sold 20,000 shares of Hovnanian Enterprises stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 12,890 shares in the company, valued at approximately $2,957,610.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Vincent Pagano, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $201.11, for a total value of $603,330.00. Following the completion of the sale, the director now owns 24,552 shares in the company, valued at $4,937,652.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ara K. Hovnanian sold 20,000 shares of the business’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 value of $4,589,000.00. Following the completion of the sale, the chief executive officer now owns 12,890 shares of the company’s stock, valued at $2,957,610.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,057 shares of company stock worth $12,824,040. 17.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hovnanian Enterprises

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Hovnanian Enterprises by 6.1% during the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock valued at $44,011,000 after buying an additional 16,012 shares during the period. American Century Companies Inc. increased its stake in shares of Hovnanian Enterprises by 16.1% during the second quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after buying an additional 18,622 shares during the period. AQR Capital Management LLC increased its stake in shares of Hovnanian Enterprises by 8.3% during the second quarter. AQR Capital Management LLC now owns 67,180 shares of the construction company’s stock valued at $9,534,000 after buying an additional 5,135 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Hovnanian Enterprises by 26.0% during the third quarter. Assenagon Asset Management S.A. now owns 47,561 shares of the construction company’s stock valued at $9,720,000 after buying an additional 9,825 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Hovnanian Enterprises by 72.3% during the second quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock valued at $6,438,000 after buying an additional 19,031 shares during the period. 65.40% of the stock is owned by hedge funds and other institutional investors.

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.