Hovnanian Enterprises (NYSE:HOV) Shares Down 5.1% – Should You Sell?

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) fell 5.1% during mid-day trading on Thursday . The stock traded as low as $126.52 and last traded at $127.03. 46,480 shares were traded during trading, a decline of 43% from the average session volume of 81,266 shares. The stock had previously closed at $133.82.

Analyst Ratings Changes

Separately, Wedbush restated a “neutral” rating and set a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Stock Down 5.7 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. The firm has a market capitalization of $763.33 million, a P/E ratio of 3.93 and a beta of 2.62. The business’s fifty day moving average price is $167.20 and its two-hundred day moving average price is $180.11.

Insider Transactions at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $188.86, for a total value of $283,290.00. Following the sale, the director now owns 13,290 shares in the company, valued at $2,509,949.40. This represents a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ara K. Hovnanian sold 644 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $194.99, for a total transaction of $125,573.56. Following the completion of the sale, the chief executive officer now directly owns 45,635 shares in the company, valued at $8,898,368.65. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.67% of the company’s stock.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Hovnanian Enterprises in the 3rd quarter worth $17,449,000. Brightline Capital Management LLC boosted its stake in Hovnanian Enterprises by 68.8% during the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock worth $16,554,000 after purchasing an additional 33,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Hovnanian Enterprises by 92.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock worth $10,212,000 after buying an additional 23,990 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Hovnanian Enterprises by 72.3% during the second quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock worth $6,438,000 after buying an additional 19,031 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Hovnanian Enterprises by 16.1% in the second quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after buying an additional 18,622 shares during the last quarter. 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.