Hovnanian Enterprises (NYSE:HOV) Shares Gap Up to $198.32

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price gapped up prior to trading on Friday . The stock had previously closed at $198.32, but opened at $204.61. Hovnanian Enterprises shares last traded at $210.61, with a volume of 13,588 shares traded.

Wall Street Analysts Forecast Growth

HOV has been the subject of a number of recent analyst reports. Zelman & Associates raised shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price objective for the company in a research note on Thursday, May 23rd. StockNews.com downgraded Hovnanian Enterprises from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

Hovnanian Enterprises Stock Performance

The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $190.56 and a 200 day moving average of $163.44. The stock has a market capitalization of $1.29 billion, a P/E ratio of 7.00 and a beta of 2.64.

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

Insiders Place Their Bets

In related news, CEO Ara K. Hovnanian sold 644 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $223.11, for a total transaction of $143,682.84. Following the sale, the chief executive officer now owns 60,831 shares of the company’s stock, valued at approximately $13,572,004.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Ara K. Hovnanian sold 644 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $223.11, for a total transaction of $143,682.84. Following the completion of the transaction, the chief executive officer now directly owns 60,831 shares of the company’s stock, valued at $13,572,004.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ara K. Hovnanian sold 1,123 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $140.05, for a total value of $157,276.15. Following the transaction, the chief executive officer now owns 59,859 shares of the company’s stock, valued at $8,383,252.95. The disclosure for this sale can be found here. In the last three months, insiders sold 78,125 shares of company stock valued at $14,117,444. 17.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hovnanian Enterprises

Large investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new position in Hovnanian Enterprises during the second quarter worth $37,000. CWM LLC raised its holdings in Hovnanian Enterprises by 3,541.7% in 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 during the period. Russell Investments Group Ltd. raised its holdings in Hovnanian Enterprises by 27.4% in the 4th quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock valued at $123,000 after acquiring an additional 170 shares during the period. EntryPoint Capital LLC lifted its position in Hovnanian Enterprises by 309.9% during the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after acquiring an additional 626 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Hovnanian Enterprises during the second quarter worth approximately $156,000. 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.