Short Interest in Hovnanian Enterprises, Inc. (NYSE:HOV) Rises By 7.2%

Hovnanian Enterprises, Inc. (NYSE:HOV) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 242,300 shares, an increase of 7.2% from the October 15th total of 226,100 shares. Currently, 5.5% of the company’s shares are sold short. Based on an average daily volume of 75,100 shares, the short-interest ratio is presently 3.2 days.

Insider Transactions at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 123 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 47,156 shares in the company, valued at $10,380,450.28. This represents a 0.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vincent Pagano, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $201.11, for a total value of $603,330.00. Following the completion of the transaction, the director now owns 24,552 shares of the company’s stock, valued at approximately $4,937,652.72. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,057 shares of company stock worth $12,824,040. Insiders own 17.67% of the company’s stock.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of HOV. Allspring Global Investments Holdings LLC purchased a new stake in Hovnanian Enterprises during the 3rd quarter valued at about $33,000. Innealta Capital LLC acquired a new position in shares of Hovnanian Enterprises in the 2nd quarter valued at about $37,000. FMR LLC lifted its holdings in shares of Hovnanian Enterprises by 20.6% in the 3rd 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. EntryPoint Capital LLC lifted its holdings in shares of Hovnanian Enterprises by 309.9% in the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after buying an additional 626 shares during the period. Finally, CWM LLC lifted its holdings in shares of Hovnanian Enterprises by 89.6% in the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after buying an additional 354 shares during the period. 65.40% of the stock is owned by institutional investors.

Hovnanian Enterprises Stock Performance

NYSE:HOV traded down $2.03 during mid-day trading on Monday, hitting $165.91. 41,589 shares of the company traded hands, compared to its average volume of 79,487. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Hovnanian Enterprises has a one year low of $86.61 and a one year high of $240.34. The stock’s fifty day moving average price is $192.79 and its 200-day moving average price is $178.96. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 5.13 and a beta of 2.60.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. The business had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. During the same quarter in the prior year, the business earned $7.38 EPS. Research analysts anticipate that Hovnanian Enterprises will post 30 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.