Hovnanian Enterprises (NYSE:HOV) Stock Price Down 3.4% - What's Next?

Hovnanian Enterprises Inc (NYSE:HOV - Get Free Report)'s share price fell 3.4% during mid-day trading on Thursday . The company traded as low as $114.94 and last traded at $113.40. 59,262 shares traded hands during trading, a decline of 35% from the average session volume of 91,795 shares. The stock had previously closed at $117.41.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HOV shares. Wall Street Zen cut shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wedbush reissued 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 Stock Performance

The firm's 50-day moving average price is $99.84 and its two-hundred day moving average price is $111.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.28 and a current ratio of 1.58. The stock has a market cap of $670.91 million, a price-to-earnings ratio of 3.97 and a beta of 2.13.

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

Insider Buying and Selling

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 5,500 shares of the company'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 transaction, the director owned 5,338 shares of the company's stock, 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 this link. 19.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HOV. Forager Capital Management LLC lifted its position in 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 buying an additional 72,068 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Hovnanian Enterprises by 3,566.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 21,741 shares of the construction company's stock valued at $2,909,000 after buying an additional 21,148 shares during the last quarter. First Trust Advisors LP acquired a new position in Hovnanian Enterprises in the fourth quarter valued at about $2,772,000. GAMMA Investing LLC lifted its position in Hovnanian Enterprises by 12,432.3% in the first quarter. GAMMA Investing LLC now owns 15,916 shares of the construction company's stock valued at $16,670,000 after buying an additional 15,789 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Hovnanian Enterprises in the first quarter valued at about $1,605,000. 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.