Hovnanian Enterprises (NYSE:HOV) Stock Price Down 6.5%

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) shares traded down 6.5% during mid-day trading on Tuesday . The stock traded as low as $144.97 and last traded at $144.97. 4,127 shares traded hands during trading, a decline of 95% from the average session volume of 84,094 shares. The stock had previously closed at $154.99.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. TheStreet upgraded Hovnanian Enterprises from a "c+" rating to a "b-" rating in a research note on Friday, February 16th. StockNews.com downgraded Hovnanian Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, March 3rd.

Hovnanian Enterprises Price Performance

The stock has a market cap of $917.44 million, a price-to-earnings ratio of 5.41 and a beta of 2.61. The stock has a fifty day simple moving average of $154.49 and a 200-day simple moving average of $126.53. The company has a current ratio of 4.07, a quick ratio of 0.86 and a debt-to-equity ratio of 2.19.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last released its earnings results on Thursday, February 22nd. The construction company reported $2.75 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a return on equity of 58.22% and a net margin of 7.45%. The firm had revenue of $594.20 million for the quarter.

Insiders Place Their Bets

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $157.82, for a total value of $157,820.00. Following the completion of the sale, the chief executive officer now owns 51,475 shares in the company, valued at approximately $8,123,784.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.67% of the company's stock.

Hedge Funds Weigh In On Hovnanian Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of HOV. Tower Research Capital LLC TRC raised its position in Hovnanian Enterprises by 157.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 778 shares of the construction company's stock valued at $28,000 after purchasing an additional 476 shares during the last quarter. Ensign Peak Advisors Inc raised its position in Hovnanian Enterprises by 95.2% in the 3rd quarter. Ensign Peak Advisors Inc now owns 820 shares of the construction company's stock valued at $29,000 after purchasing an additional 400 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Hovnanian Enterprises in the 4th quarter valued at $29,000. FMR LLC raised its position in Hovnanian Enterprises by 1,861.5% in the 2nd quarter. FMR LLC now owns 765 shares of the construction company's stock valued at $33,000 after purchasing an additional 726 shares during the last quarter. Finally, State of Wyoming bought a new position in Hovnanian Enterprises in the 2nd quarter valued at $42,000. Institutional investors own 65.40% of the company's stock.

About Hovnanian Enterprises

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.