Hovnanian Enterprises (NYSE:HOV) Sees Unusually-High Trading Volume - What's Next?

Hovnanian Enterprises Inc (NYSE:HOV - Get Free Report) saw strong trading volume on Monday . 283,335 shares changed hands during trading, an increase of 193% from the previous session's volume of 96,615 shares.The stock last traded at $117.06 and had previously closed at $119.35.

Wall Street Analyst Weigh In

HOV has been the subject of several research reports. Wedbush reiterated a "neutral" rating and issued a $120.00 target price on shares of Hovnanian Enterprises in a research report on Wednesday, June 11th. Wall Street Zen downgraded shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Hovnanian Enterprises Trading Down 2.0%

The company has a market capitalization of $692.90 million, a P/E ratio of 4.10 and a beta of 2.13. The stock's 50 day moving average is $101.68 and its 200-day moving average is $110.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.28.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its earnings results on Tuesday, May 20th. The construction company reported $2.43 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $733.20 million. The firm's revenue for the quarter was down 3.1% compared to the same quarter last year.

Insider Activity at Hovnanian Enterprises

In other news, Director Edward A. Kangas sold 5,500 shares of the 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 sale, the director owned 5,338 shares in the company, valued at $571,806.56. This represents a 50.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 19.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hovnanian Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its position in shares of Hovnanian Enterprises by 23.0% during the 4th quarter. Victory Capital Management Inc. now owns 4,199 shares of the construction company's stock valued at $562,000 after purchasing an additional 785 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Hovnanian Enterprises by 0.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company's stock worth $1,186,000 after buying an additional 81 shares in the last quarter. Swiss National Bank boosted its stake in shares of Hovnanian Enterprises by 5.3% during the 4th quarter. Swiss National Bank now owns 9,900 shares of the construction company's stock worth $1,325,000 after purchasing an additional 500 shares during the period. Vestcor Inc boosted its stake in shares of Hovnanian Enterprises by 16.8% during the 4th quarter. Vestcor Inc now owns 5,009 shares of the construction company's stock worth $670,000 after purchasing an additional 720 shares during the period. Finally, Intech Investment Management LLC boosted its stake in shares of Hovnanian Enterprises by 30.5% during the 4th quarter. Intech Investment Management LLC now owns 2,204 shares of the construction company's stock worth $295,000 after purchasing an additional 515 shares during the period. Hedge funds and other institutional investors 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.

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