Hovnanian Enterprises (NYSE:HOV) Trading Down 4.7% – Time to Sell?

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) fell 4.7% during trading on Wednesday . The company traded as low as $186.50 and last traded at $187.55. 19,902 shares traded hands during trading, a decline of 75% from the average session volume of 78,732 shares. The stock had previously closed at $196.74.

Analyst Ratings Changes

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

Hovnanian Enterprises Stock Down 3.4 %

The firm has a market cap of $1.15 billion, a PE ratio of 6.08 and a beta of 2.62. The business’s 50 day moving average price is $187.28 and its 200 day moving average price is $180.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27.

Insider Activity at Hovnanian Enterprises

In other Hovnanian Enterprises news, 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 transaction, the director now directly owns 127,982 shares in the company, valued at $28,874,019.02. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ara K. Hovnanian sold 123 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $220.13, for a total transaction of $27,075.99. Following the completion of the transaction, the chief executive officer now owns 47,156 shares in the company, valued at $10,380,450.28. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,289 shares of company stock valued at $5,158,796. Corporate insiders own 17.67% of the company’s stock.

Hedge Funds Weigh In On Hovnanian Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Hovnanian Enterprises in the 3rd quarter valued at about $33,000. Innealta Capital LLC acquired a new position in shares of Hovnanian Enterprises in the 2nd quarter worth approximately $37,000. FMR LLC lifted its holdings in shares of Hovnanian Enterprises by 20.6% in the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after acquiring an additional 59 shares during the last quarter. CWM LLC lifted its holdings in shares of Hovnanian Enterprises by 89.6% in the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after acquiring an additional 354 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Hovnanian Enterprises in the 2nd quarter worth approximately $156,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.