Hovnanian Enterprises, Inc. (NYSE:HOV) Short Interest Down 11.1% in November

Hovnanian Enterprises, Inc. (NYSE:HOV) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 215,300 shares, a decline of 11.1% from the October 31st total of 242,300 shares. Approximately 4.9% of the shares of the company are short sold. Based on an average trading volume of 71,700 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analysts Forecast Growth

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

Hovnanian Enterprises Price Performance

Shares of Hovnanian Enterprises stock traded up $2.09 on Tuesday, hitting $196.74. The company’s stock had a trading volume of 59,007 shares, compared to its average volume of 79,013. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. Hovnanian Enterprises has a 1 year low of $95.30 and a 1 year high of $240.34. The firm has a fifty day moving average price of $187.67 and a 200-day moving average price of $180.29. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 6.07 and a beta of 2.62.

Insiders Place Their Bets

In other news, CEO Ara K. Hovnanian sold 13,552 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $215.14, for a total value of $2,915,577.28. Following the completion of the transaction, the chief executive officer now owns 47,279 shares of the company’s stock, valued at $10,171,604.06. The trade was a 22.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J Larry Sorsby sold 4,062 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $225.61, for a total value of $916,427.82. Following the completion of the transaction, the director now directly owns 127,982 shares of the company’s stock, valued at approximately $28,874,019.02. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,289 shares of company stock valued at $5,158,796. 17.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hovnanian Enterprises

Several institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Hovnanian Enterprises during the 3rd quarter worth approximately $33,000. Innealta Capital LLC purchased a new stake in Hovnanian Enterprises during the 2nd quarter worth approximately $37,000. FMR LLC increased its stake in Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after buying an additional 59 shares in the last quarter. CWM LLC increased its stake in Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after buying an additional 354 shares in the last quarter. Finally, Creative Planning purchased a new stake in Hovnanian Enterprises during the 3rd quarter worth approximately $202,000. Hedge funds and other 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.