Insider Selling: Hovnanian Enterprises COO Sells 67,000 Shares of Stock (HOV)
Hovnanian Enterprises (NYSE:HOV) COO Thomas J. Pellerito sold 67,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $6.31, for a total transaction of $422,770.00. Following the completion of the sale, the chief operating officer now directly owns 1,167,494 shares of the company’s stock, valued at approximately $7,366,887. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
HOV has been the subject of a number of recent research reports. Analysts at Thomson Reuters/Verus upgraded shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research note to investors on Monday. Separately, analysts at TheStreet upgraded shares of Hovnanian Enterprises to a “hold” rating in a research note to investors on Monday, December 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $6.04.
Hovnanian Enterprises (NYSE:HOV) traded down 1.76% on Monday, hitting $6.14. The stock had a trading volume of 3,057,195 shares. Hovnanian Enterprises has a one year low of $4.65 and a one year high of $6.80. The stock’s 50-day moving average is $5.64 and its 200-day moving average is $5.3. The company has a market cap of $854.7 million and a price-to-earnings ratio of 29.07.
Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Thursday, December 12th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.16 by $0.05. The company had revenue of $591.70 million for the quarter, compared to the consensus estimate of $582.89 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. Analysts expect that Hovnanian Enterprises will post $0.45 EPS for the current fiscal year.
Hovnanian Enterprises, Inc (NYSE:HOV) designs, constructs, markets, and sells single-family detached homes, attached townhomes and condominiums, mid-rise condominiums, urban infill and active adult homes in planned residential developments.
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