Hovnanian Enterprises (NYSE:HOV) Stock Price Down 4.1% – Time to Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV) was down 4.1% on Monday . The company traded as low as $150.37 and last traded at $150.37. Approximately 38,421 shares changed hands during trading, a decline of 52% from the average daily volume of 79,746 shares. The stock had previously closed at $156.86.

Analyst Ratings Changes

HOV has been the topic of a number of recent research reports. StockNews.com downgraded Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Wedbush reissued a “neutral” rating and set a $155.00 target price on shares of Hovnanian Enterprises in a research report on Monday.

Hovnanian Enterprises Trading Down 2.6 %

The stock has a market cap of $868.23 million, a PE ratio of 4.47 and a beta of 2.62. The company’s fifty day moving average is $180.18 and its 200-day moving average is $181.65. 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 Buying and Selling at Hovnanian Enterprises

In other news, Director Edward A. Kangas sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the transaction, the director now directly owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. This trade represents a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ara K. Hovnanian sold 123 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $220.13, for a total value of $27,075.99. Following the transaction, the chief executive officer now owns 47,156 shares in the company, valued at approximately $10,380,450.28. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,737 shares of company stock valued at $2,243,218. Company insiders own 17.67% of the company’s stock.

Institutional Trading of Hovnanian Enterprises

Several large investors have recently added to or reduced their stakes in HOV. Philadelphia Financial Management of San Francisco LLC purchased a new position in Hovnanian Enterprises in the third quarter worth approximately $17,449,000. Brightline Capital Management LLC lifted its stake in shares of Hovnanian Enterprises by 68.8% in the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock valued at $16,554,000 after purchasing an additional 33,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Hovnanian Enterprises by 92.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock valued at $10,212,000 after purchasing an additional 23,990 shares during the last quarter. Bank of Montreal Can increased its position in shares of Hovnanian Enterprises by 72.3% during the 2nd quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock worth $6,438,000 after purchasing an additional 19,031 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Hovnanian Enterprises by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after buying an additional 18,622 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

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.