Hovnanian Enterprises (NYSE:HOV) Reaches New 12-Month Low – Here’s What Happened

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) hit a new 52-week low during trading on Thursday . The company traded as low as $120.51 and last traded at $123.86, with a volume of 68034 shares trading hands. The stock had previously closed at $125.91.

Analyst Ratings Changes

Separately, Wedbush reiterated a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Hovnanian Enterprises Stock Down 1.6 %

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 fifty day simple moving average of $162.29 and a 200-day simple moving average of $179.47. The firm has a market cap of $749.97 million, a price-to-earnings ratio of 3.86 and a beta of 2.70.

Insider Transactions at Hovnanian Enterprises

In related news, CEO Ara K. Hovnanian sold 644 shares of Hovnanian Enterprises stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $194.99, for a total transaction of $125,573.56. Following the completion of the sale, the chief executive officer now directly owns 45,635 shares of the company’s stock, valued at approximately $8,898,368.65. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward A. Kangas sold 1,500 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the completion of the sale, the director now owns 13,290 shares of the company’s stock, valued at $2,509,949.40. This trade represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HOV. Bank of New York Mellon Corp lifted its position in shares of Hovnanian Enterprises by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 35,054 shares of the construction company’s stock valued at $4,975,000 after acquiring an additional 993 shares during the period. Principal Financial Group Inc. raised its stake in Hovnanian Enterprises by 11.0% in the second quarter. Principal Financial Group Inc. now owns 3,298 shares of the construction company’s stock valued at $468,000 after purchasing an additional 327 shares in the last quarter. Rhumbline Advisers grew its stake in Hovnanian Enterprises by 3.8% during the second quarter. Rhumbline Advisers now owns 9,033 shares of the construction company’s stock worth $1,282,000 after buying an additional 330 shares in the last quarter. Victory Capital Management Inc. increased its stake in Hovnanian Enterprises by 88.1% in the second quarter. Victory Capital Management Inc. now owns 14,334 shares of the construction company’s stock valued at $2,034,000 after acquiring an additional 6,715 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Hovnanian Enterprises by 16.1% in the second quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after acquiring an additional 18,622 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

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.