Hovnanian Enterprises Inc (NYSE:HOV - Get Free Report) shares traded down 6.6% on Tuesday . The stock traded as low as $107.93 and last traded at $109.32. 204,010 shares changed hands during mid-day trading, an increase of 110% from the average session volume of 97,365 shares. The stock had previously closed at $117.03.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Wedbush reaffirmed a "neutral" rating and issued a $120.00 price target on shares of Hovnanian Enterprises in a research note 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.
View Our Latest Research Report on HOV
Hovnanian Enterprises Trading Down 2.4%
The company has a quick ratio of 0.28, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. The firm's 50-day moving average price is $102.50 and its 200 day moving average price is $109.84. The company has a market capitalization of $632.64 million, a P/E ratio of 3.74 and a beta of 2.13.
Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its earnings results on Tuesday, May 20th. The construction company reported $2.43 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.02). The business had revenue of $686.47 million for the quarter, compared to the consensus estimate of $733.20 million. Hovnanian Enterprises had a return on equity of 33.18% and a net margin of 7.03%. Hovnanian Enterprises's revenue was down 3.1% compared to the same quarter last year.
Insiders Place Their Bets
In related news, 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 transaction of $589,160.00. Following the transaction, the director directly owned 5,338 shares in the company, valued at approximately $571,806.56. The trade was a 50.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 19.77% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Forager Capital Management LLC lifted its stake in shares of Hovnanian Enterprises by 61.6% during 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 lifted its stake in shares of Hovnanian Enterprises by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company's stock valued at $24,210,000 after buying an additional 602 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Hovnanian Enterprises by 8.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 121,239 shares of the construction company's stock valued at $16,224,000 after buying an additional 9,407 shares in the last quarter. GW&K Investment Management LLC lifted its stake in shares of Hovnanian Enterprises by 2.9% during the 1st quarter. GW&K Investment Management LLC now owns 117,739 shares of the construction company's stock valued at $12,328,000 after buying an additional 3,270 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Hovnanian Enterprises by 1.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 85,956 shares of the construction company's stock valued at $11,503,000 after buying an additional 1,461 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.
About Hovnanian Enterprises
(
Get Free Report)
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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