Insider Selling: Hovnanian Enterprises, Inc. (NYSE:HOV) Director Sells $283,290.00 in Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) Director Edward A. Kangas sold 1,500 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $188.86, for a total value of $283,290.00. Following the transaction, the director now directly owns 13,290 shares in the company, valued at approximately $2,509,949.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hovnanian Enterprises Stock Performance

Shares of HOV stock opened at $206.24 on Friday. 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 capitalization of $1.24 billion, a price-to-earnings ratio of 6.87 and a beta of 2.59. Hovnanian Enterprises, Inc. has a one year low of $65.22 and a one year high of $240.34. The company has a 50 day moving average price of $204.20 and a 200 day moving average price of $173.76.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data 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 in the previous year, the company earned $7.38 earnings per share. Sell-side analysts anticipate that Hovnanian Enterprises, Inc. will post 30 EPS for the current year.

Hedge Funds Weigh In On Hovnanian Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning purchased a new position in Hovnanian Enterprises in the third quarter valued at approximately $202,000. Exchange Traded Concepts LLC purchased a new position in shares of Hovnanian Enterprises in the 3rd quarter valued at $288,000. Profit Investment Management LLC acquired a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at $2,066,000. CWM LLC boosted its position in Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after purchasing an additional 354 shares during the period. Finally, Truist Financial Corp acquired a new stake in Hovnanian Enterprises in the 2nd quarter valued at $352,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.