J Larry Sorsby Sells 1,032 Shares of Hovnanian Enterprises (NYSE:HOV) Stock

Hovnanian Enterprises Inc (NYSE:HOV) Director J Larry Sorsby sold 1,032 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $142.57, for a total transaction of $147,132.24. Following the completion of the transaction, the director directly owned 187,416 shares in the company, valued at approximately $26,719,899.12. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Hovnanian Enterprises Price Performance

NYSE:HOV opened at $147.56 on Friday. Hovnanian Enterprises Inc has a 52-week low of $91.52 and a 52-week high of $162.05. The stock has a fifty day moving average of $114.54 and a 200 day moving average of $113.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.40 and a current ratio of 1.50. The firm has a market capitalization of $864.67 million, a price-to-earnings ratio of 40.54 and a beta of 1.84.

Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Thursday, May 21st. The construction company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.04) by $1.58. The business had revenue of $667.65 million for the quarter, compared to analyst estimates of $626.40 million. Hovnanian Enterprises had a return on equity of 11.23% and a net margin of 1.25%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its holdings in shares of Hovnanian Enterprises by 72.1% in the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock worth $45,000 after acquiring an additional 181 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Hovnanian Enterprises by 614.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock worth $58,000 after purchasing an additional 479 shares during the period. State of Wyoming purchased a new position in Hovnanian Enterprises in the 1st quarter worth $62,000. International Assets Investment Management LLC bought a new stake in Hovnanian Enterprises in the fourth quarter worth $117,000. Finally, Harbor Capital Advisors Inc. lifted its stake in Hovnanian Enterprises by 38.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,369 shares of the construction company’s stock worth $134,000 after purchasing an additional 378 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citizens Jmp initiated coverage on shares of Hovnanian Enterprises in a research note on Thursday, April 9th. They issued a “market underperform” rating and a $74.00 price target for the company. Wall Street Zen upgraded shares of Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings lowered shares of Hovnanian Enterprises from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $97.00.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.