Hovnanian Enterprises, Inc. (NYSE:HOV) Director J Larry Sorsby Sells 4,062 Shares

Hovnanian Enterprises, Inc. (NYSE:HOV) Director J Larry Sorsby sold 4,062 shares of Hovnanian Enterprises stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $225.61, for a total transaction of $916,427.82. Following the sale, the director now directly owns 127,982 shares of the company’s stock, valued at approximately $28,874,019.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hovnanian Enterprises Stock Performance

Shares of HOV opened at $215.95 on Wednesday. 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 fifty day simple moving average of $201.03 and a 200 day simple moving average of $167.45. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 7.20 and a beta of 2.64. Hovnanian Enterprises, Inc. has a 12 month low of $65.22 and a 12 month high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, August 22nd. The construction company reported $9.75 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. The firm had revenue of $722.70 million for the quarter. During the same quarter in the prior year, the company earned $7.38 EPS. Research analysts forecast that Hovnanian Enterprises, Inc. will post 30 EPS for the current fiscal year.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Hovnanian Enterprises by 6.1% in the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock valued at $44,011,000 after buying an additional 16,012 shares during the period. Dimensional Fund Advisors LP increased its holdings in Hovnanian Enterprises by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 181,338 shares of the construction company’s stock valued at $28,221,000 after buying an additional 1,433 shares during the period. American Century Companies Inc. lifted its position in shares of Hovnanian Enterprises by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock worth $19,008,000 after buying an additional 18,622 shares during the last quarter. AQR Capital Management LLC lifted its stake 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 purchasing an additional 5,135 shares during the last quarter. Finally, UBS Group AG grew its position in Hovnanian Enterprises by 17.4% during the 4th quarter. UBS Group AG now owns 53,332 shares of the construction company’s stock worth $8,300,000 after acquiring an additional 7,900 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.