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

Hovnanian Enterprises, Inc. (NYSE:HOV) Director J Larry Sorsby sold 4,062 shares of Hovnanian Enterprises stock in a transaction dated Thursday, September 19th. The stock was 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 in the company, valued at approximately $28,874,019.02. The sale was disclosed in a document filed with the SEC, which is available at this link.

Hovnanian Enterprises Stock Down 1.6 %

Hovnanian Enterprises stock opened at $215.95 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. Hovnanian Enterprises, Inc. has a fifty-two week low of $65.22 and a fifty-two week high of $240.34. The firm has a fifty day moving average price of $201.03 and a two-hundred day moving average price of $167.45. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 7.20 and a beta of 2.64.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Hovnanian Enterprises

A number of hedge funds have recently modified their holdings of HOV. Vanguard Group Inc. raised its stake in Hovnanian Enterprises by 6.1% during the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock worth $44,011,000 after acquiring an additional 16,012 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Hovnanian Enterprises by 0.8% in the fourth 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 in the last quarter. American Century Companies Inc. raised its stake 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 worth $19,008,000 after acquiring an additional 18,622 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Hovnanian Enterprises by 8.3% in the second 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 in the last quarter. Finally, UBS Group AG lifted its holdings 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 buying an additional 7,900 shares in the last quarter. 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.