Hovnanian Enterprises Inc (NYSE:HOV - Get Free Report) traded up 8% during mid-day trading on Tuesday . The company traded as high as $117.00 and last traded at $116.17. 22,968 shares traded hands during trading, a decline of 76% from the average session volume of 97,240 shares. The stock had previously closed at $107.61.
Analyst Ratings Changes
HOV has been the topic of several analyst reports. Wall Street Zen downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wedbush restated a "neutral" rating and set a $120.00 price target on shares of Hovnanian Enterprises in a research report on Wednesday, June 11th.
Read Our Latest Stock Report on Hovnanian Enterprises
Hovnanian Enterprises Stock Performance
The company has a market capitalization of $709.65 million, a price-to-earnings ratio of 4.20 and a beta of 2.13. The firm has a fifty day simple moving average of $103.58 and a 200 day simple moving average of $109.31. 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 issued its quarterly 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 company had revenue of $686.47 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis.
Insider Buying and Selling at Hovnanian Enterprises
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 stock was sold at an average price of $107.12, for a total transaction of $589,160.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.77% of the stock is currently owned by company insiders.
Institutional Trading of Hovnanian Enterprises
Institutional investors have recently made changes to their positions in the company. Forager Capital Management LLC lifted its stake in Hovnanian Enterprises by 61.6% in the 4th quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock worth $25,301,000 after purchasing an additional 72,068 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hovnanian Enterprises by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company's stock valued at $24,210,000 after purchasing an additional 602 shares during the last quarter. D. E. Shaw & Co. Inc. lifted 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 buying an additional 9,407 shares in the last quarter. GW&K Investment Management LLC boosted its stake in 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 during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in 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 during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.
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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