Hovnanian Enterprises (NYSE:HOV) Given “Neutral” Rating at Wedbush

Wedbush reaffirmed their neutral rating on shares of Hovnanian Enterprises (NYSE:HOV) in a research report released on Monday, MarketBeat.com reports. They currently have a $155.00 price target on the construction company’s stock.

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

Hovnanian Enterprises Trading Down 7.3 %

Shares of HOV opened at $133.05 on Monday. The company’s fifty day simple moving average is $178.94 and its 200-day simple moving average is $181.31. The company has a market cap of $805.62 million, a P/E ratio of 4.14 and a beta of 2.62. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Hovnanian Enterprises has a twelve month low of $125.63 and a twelve month high of $240.34.

Insider Activity

In related news, 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 completion of the sale, the chief executive officer now owns 47,156 shares in the company, valued at approximately $10,380,450.28. The trade was a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vincent Pagano, Jr. sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $201.11, for a total value of $603,330.00. Following the transaction, the director now owns 24,552 shares in the company, valued at $4,937,652.72. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,675 shares of company stock valued at $1,326,791. 17.67% of the stock is currently owned by company insiders.

Institutional Trading of Hovnanian Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Hovnanian Enterprises during the 3rd quarter valued at about $33,000. Innealta Capital LLC bought a new position in shares of Hovnanian Enterprises during the second quarter valued at approximately $37,000. FMR LLC increased its holdings in Hovnanian Enterprises by 20.6% during the third quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after buying an additional 59 shares during the period. CWM LLC raised its stake in Hovnanian Enterprises by 89.6% in the third 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, International Assets Investment Management LLC purchased a new stake in Hovnanian Enterprises during the second quarter worth $156,000. 65.40% of the stock is currently owned by 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.