Hovnanian Enterprises (NYSE:HOV) Trading 8.9% Higher – Time to Buy?

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) rose 8.9% on Monday . The company traded as high as $197.99 and last traded at $197.95. Approximately 24,546 shares were traded during trading, a decline of 69% from the average daily volume of 78,958 shares. The stock had previously closed at $181.74.

Analyst Ratings Changes

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

Hovnanian Enterprises Price Performance

The firm has a market cap of $1.15 billion, a P/E ratio of 5.92 and a beta of 2.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. The stock’s 50-day simple moving average is $189.87 and its two-hundred day simple moving average is $179.77.

Insider Transactions at Hovnanian Enterprises

In other news, Director Edward A. Kangas sold 1,500 shares of the business’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 completion of the sale, the director now owns 13,290 shares in the company, valued at approximately $2,509,949.40. The trade was a 10.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ara K. Hovnanian sold 644 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $194.99, for a total transaction of $125,573.56. Following the completion of the transaction, the chief executive officer now directly owns 45,635 shares of the company’s stock, valued at $8,898,368.65. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,413 shares of company stock worth $7,162,517. Insiders own 17.67% of the company’s stock.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of HOV. Russell Investments Group Ltd. lifted its holdings in shares of Hovnanian Enterprises by 177.0% during the 1st quarter. Russell Investments Group Ltd. now owns 2,191 shares of the construction company’s stock valued at $344,000 after purchasing an additional 1,400 shares during the last quarter. Vanguard Group Inc. raised its stake in 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 last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Hovnanian Enterprises by 2.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,917 shares of the construction company’s stock worth $1,243,000 after acquiring an additional 188 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Hovnanian Enterprises by 2,143.3% during the second quarter. SG Americas Securities LLC now owns 14,402 shares of the construction company’s stock worth $2,044,000 after acquiring an additional 13,760 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Hovnanian Enterprises by 425,175.0% during the second quarter. Nisa Investment Advisors LLC now owns 17,011 shares of the construction company’s stock valued at $2,414,000 after acquiring an additional 17,007 shares in the last quarter. Hedge funds and other 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.