Hovnanian Enterprises (NYSE:HOV) Sees Unusually-High Trading Volume - Still a Buy?

Hovnanian Enterprises Inc (NYSE:HOV - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 218,552 shares changed hands during trading, an increase of 140% from the previous session's volume of 91,154 shares.The stock last traded at $114.95 and had previously closed at $114.17.

Analyst Ratings Changes

Several research analysts have weighed in on HOV shares. Wedbush reaffirmed a "neutral" rating and set a $120.00 target price on shares of Hovnanian Enterprises in a research note on Wednesday, June 11th. Wall Street Zen lowered shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Hovnanian Enterprises Trading Down 3.5%

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 company has a market cap of $670.91 million, a PE ratio of 3.97 and a beta of 2.13. The company's 50 day simple moving average is $99.84 and its two-hundred day simple moving average is $111.12.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.43 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 business had revenue of $686.47 million during the quarter, compared to analysts' expectations of $733.20 million. Hovnanian Enterprises's revenue for the quarter was down 3.1% compared to the same quarter last year.

Insider Buying and Selling

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 5,500 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $107.12, for a total transaction of $589,160.00. Following the completion of the transaction, the director owned 5,338 shares in the company, valued at $571,806.56. The trade was a 50.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 19.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Forager Capital Management LLC boosted its holdings in shares of Hovnanian Enterprises by 61.6% in the 4th quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock valued at $25,301,000 after buying an additional 72,068 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Hovnanian Enterprises by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company's stock worth $24,210,000 after acquiring an additional 602 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in Hovnanian Enterprises by 8.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 121,239 shares of the construction company's stock worth $16,224,000 after acquiring an additional 9,407 shares during the last quarter. GW&K Investment Management LLC grew its holdings in shares of Hovnanian Enterprises by 2.9% during the first quarter. GW&K Investment Management LLC now owns 117,739 shares of the construction company's stock worth $12,328,000 after buying an additional 3,270 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Hovnanian Enterprises by 1.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 85,956 shares of the construction company's stock worth $11,503,000 after buying an additional 1,461 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company's stock.

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.