Ara Hovnanian Sells 12,880 Shares of Hovnanian Enterprises (NYSE:HOV) Stock

Hovnanian Enterprises Inc (NYSE:HOV) CEO Ara Hovnanian sold 12,880 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $125.78, for a total transaction of $1,620,046.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Hovnanian Enterprises Stock Down 0.4%

HOV stock opened at $141.28 on Friday. The company has a quick ratio of 0.40, a current ratio of 1.50 and a debt-to-equity ratio of 0.05. Hovnanian Enterprises Inc has a fifty-two week low of $91.52 and a fifty-two week high of $162.05. The firm’s 50-day simple moving average is $113.71 and its 200 day simple moving average is $113.26. The stock has a market cap of $827.93 million, a PE ratio of 38.81 and a beta of 1.84.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Thursday, May 21st. The construction company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($2.04) by $1.58. Hovnanian Enterprises had a net margin of 1.25% and a return on equity of 11.23%. The firm had revenue of $667.65 million for the quarter, compared to the consensus estimate of $626.40 million.

Institutional Trading of Hovnanian Enterprises

Several institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Hovnanian Enterprises by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,979 shares of the construction company’s stock worth $312,000 after acquiring an additional 156 shares during the period. Jane Street Group LLC lifted its holdings in Hovnanian Enterprises by 436.3% in the 1st quarter. Jane Street Group LLC now owns 9,106 shares of the construction company’s stock valued at $953,000 after acquiring an additional 7,408 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Hovnanian Enterprises in the 2nd quarter valued at about $506,000. Legal & General Group Plc lifted its holdings in Hovnanian Enterprises by 6.9% in the 2nd quarter. Legal & General Group Plc now owns 5,239 shares of the construction company’s stock valued at $548,000 after acquiring an additional 337 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Hovnanian Enterprises by 26.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,422 shares of the construction company’s stock valued at $253,000 after purchasing an additional 502 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings downgraded Hovnanian Enterprises from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Finally, Citizens Jmp started coverage on Hovnanian Enterprises in a research report on Thursday, April 9th. They set a “market underperform” rating and a $74.00 price target for the company. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $97.00.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.