Hovnanian Enterprises (NYSE:HOV) Reaches New 1-Year Low – Should You Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV) shares hit a new 52-week low on Thursday . The stock traded as low as $120.51 and last traded at $123.86, with a volume of 68034 shares traded. The stock had previously closed at $125.91.

Wall Street Analyst Weigh In

Separately, Wedbush reissued a “neutral” rating and issued a $155.00 price objective on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Hovnanian Enterprises Price Performance

The company has a market capitalization of $714.73 million, a PE ratio of 3.68 and a beta of 2.70. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm’s 50 day simple moving average is $161.24 and its 200 day simple moving average is $179.08.

Insider Activity at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 1,500 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $188.86, for a total transaction of $283,290.00. Following the completion of the transaction, the director now owns 13,290 shares in the company, valued at $2,509,949.40. The trade was a 10.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ara K. Hovnanian sold 644 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $194.99, for a total value of $125,573.56. Following the completion of the transaction, the chief executive officer now directly owns 45,635 shares in the company, 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. 17.67% of the stock is currently owned by insiders.

Institutional Trading of Hovnanian Enterprises

A number of large investors have recently made changes to their positions in HOV. Allspring Global Investments Holdings LLC bought a new stake in Hovnanian Enterprises during the 3rd quarter valued at about $33,000. FMR LLC increased its position in shares of Hovnanian Enterprises by 20.6% during the third quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after acquiring an additional 59 shares during the period. CWM LLC raised its stake in shares of Hovnanian Enterprises by 89.6% during the third quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after acquiring an additional 354 shares in the last quarter. Creative Planning purchased a new stake in shares of Hovnanian Enterprises in the third quarter valued at approximately $202,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Hovnanian Enterprises in the third quarter worth approximately $205,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

Hovnanian Enterprises Company Profile

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.