Hovnanian Enterprises Inc (NYSE:HOV) Director Sells $589,160.00 in Stock

Hovnanian Enterprises Inc (NYSE:HOV - Get Free Report) Director Edward A. Kangas sold 5,500 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $107.12, for a total value of $589,160.00. Following the completion of the sale, the director owned 5,338 shares in the company, valued at approximately $571,806.56. This trade represents a 50.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hovnanian Enterprises Stock Performance

NYSE HOV traded down $4.08 on Friday, hitting $113.33. 223,348 shares of the stock were exchanged, compared to its average volume of 92,382. The company has a market capitalization of $670.91 million, a PE ratio of 3.97 and a beta of 2.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.28. The business's fifty day moving average is $99.84 and its 200 day moving average is $111.12. Hovnanian Enterprises Inc has a 52 week low of $81.15 and a 52 week high of $240.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last issued its earnings results on Tuesday, May 20th. The construction company reported $2.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.02). Hovnanian Enterprises had a net margin of 7.03% and a return on equity of 33.18%. The firm had revenue of $686.47 million during the quarter, compared to analyst estimates of $733.20 million. The company's quarterly revenue was down 3.1% on a year-over-year basis.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of large investors have recently added to or reduced their stakes in HOV. Forager Capital Management LLC boosted its position in shares of Hovnanian Enterprises by 61.6% in the fourth quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock valued at $25,301,000 after acquiring an additional 72,068 shares during the period. Cubist Systematic Strategies LLC raised its stake in Hovnanian Enterprises by 3,566.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 21,741 shares of the construction company's stock worth $2,909,000 after purchasing an additional 21,148 shares in the last quarter. First Trust Advisors LP bought a new stake in Hovnanian Enterprises in the 4th quarter valued at about $2,772,000. GAMMA Investing LLC boosted its holdings in Hovnanian Enterprises by 12,432.3% in the 1st quarter. GAMMA Investing LLC now owns 15,916 shares of the construction company's stock valued at $16,670,000 after purchasing an additional 15,789 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Hovnanian Enterprises during the 1st quarter worth approximately $1,605,000. Institutional investors own 65.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HOV shares. Wall Street Zen downgraded shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Wedbush reaffirmed a "neutral" rating and set a $120.00 price target on shares of Hovnanian Enterprises in a research report on Wednesday, June 11th.

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.