Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian Sells 123 Shares

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 123 shares of Hovnanian Enterprises stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $220.13, for a total transaction of $27,075.99. Following the sale, the chief executive officer now directly owns 47,156 shares in the company, valued at approximately $10,380,450.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hovnanian Enterprises Stock Up 2.6 %

Shares of HOV opened at $206.34 on Friday. The company’s 50-day moving average price is $202.41 and its 200 day moving average price is $168.38. Hovnanian Enterprises, Inc. has a 12-month low of $65.22 and a 12-month high of $240.34. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.24 billion, a P/E ratio of 6.88 and a beta of 2.64.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share (EPS) for the quarter. The business had revenue of $722.70 million for the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. During the same period last year, the firm posted $7.38 earnings per share. On average, sell-side analysts forecast that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Truist Financial Corp acquired a new stake in shares of Hovnanian Enterprises in the second quarter valued at $352,000. The Manufacturers Life Insurance Company boosted its holdings in Hovnanian Enterprises by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company’s stock valued at $274,000 after acquiring an additional 145 shares during the period. AQR Capital Management LLC grew its position in Hovnanian Enterprises by 8.3% in the 2nd quarter. AQR Capital Management LLC now owns 67,180 shares of the construction company’s stock valued at $9,534,000 after acquiring an additional 5,135 shares in the last quarter. AXA S.A. increased its stake in Hovnanian Enterprises by 306.7% during the second quarter. AXA S.A. now owns 6,930 shares of the construction company’s stock worth $984,000 after purchasing an additional 5,226 shares during the period. Finally, Squarepoint Ops LLC lifted its position in shares of Hovnanian Enterprises by 94.4% during the second quarter. Squarepoint Ops LLC now owns 3,549 shares of the construction company’s stock worth $504,000 after purchasing an additional 1,723 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

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.