Hovnanian Enterprises (NYSE:HOV) Trading Up 4.9%

Hovnanian Enterprises, Inc. (NYSE:HOV)’s stock price shot up 4.9% during trading on Thursday . The stock traded as high as $136.99 and last traded at $134.76. 15,910 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 81,753 shares. The stock had previously closed at $128.50.

Wall Street Analyst Weigh In

Several research firms have commented on HOV. TheStreet upgraded shares of Hovnanian Enterprises from a “c+” rating to a “b-” rating in a report on Friday, February 16th. StockNews.com downgraded shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, March 3rd. Finally, Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research note on Friday, April 12th.

Hovnanian Enterprises Price Performance

The company has a quick ratio of 0.86, a current ratio of 4.07 and a debt-to-equity ratio of 2.19. The company’s 50 day moving average is $148.65 and its 200 day moving average is $129.67. The firm has a market capitalization of $794.77 million, a price-to-earnings ratio of 4.69 and a beta of 2.61.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.75 EPS for the quarter. Hovnanian Enterprises had a net margin of 7.45% and a return on equity of 58.22%. The business had revenue of $594.20 million for the quarter.

Insiders Place Their Bets

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 1,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $157.82, for a total transaction of $157,820.00. Following the sale, the chief executive officer now directly owns 51,475 shares in the company, valued at $8,123,784.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 17.67% of the company’s stock.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of large investors have recently bought and sold shares of the company. Denali Advisors LLC grew its stake in Hovnanian Enterprises by 88.0% during the first quarter. Denali Advisors LLC now owns 10,906 shares of the construction company’s stock worth $1,712,000 after buying an additional 5,106 shares in the last quarter. Range Financial Group LLC acquired a new stake in Hovnanian Enterprises during the first quarter worth about $703,000. CWM LLC grew its stake in Hovnanian Enterprises by 3,541.7% during the first quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after buying an additional 425 shares in the last quarter. Vanguard Group Inc. grew its stake in Hovnanian Enterprises by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 264,423 shares of the construction company’s stock worth $41,150,000 after buying an additional 3,632 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Hovnanian Enterprises in the fourth quarter worth about $737,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.