Short Interest in Hovnanian Enterprises, Inc. (NYSE:HOV) Drops By 5.7%

Hovnanian Enterprises, Inc. (NYSE:HOV) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 193,500 shares, a decrease of 5.7% from the November 30th total of 205,100 shares. Based on an average trading volume of 78,400 shares, the days-to-cover ratio is presently 2.5 days. Approximately 4.4% of the shares of the company are sold short.

Insider Activity at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 644 shares of Hovnanian Enterprises stock in a transaction on Monday, October 14th. The shares were sold at an average price of $194.99, for a total transaction of $125,573.56. Following the transaction, the chief executive officer now owns 45,635 shares in the company, valued at $8,898,368.65. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the sale, the director now directly owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. The trade was a 10.14 % decrease in their position. The disclosure for this sale can be found here. 17.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HOV. Allspring Global Investments Holdings LLC bought a new stake in Hovnanian Enterprises during the third quarter valued at about $33,000. FMR LLC raised its stake in Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after purchasing an additional 59 shares during the period. CWM LLC raised its stake in Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after purchasing an additional 354 shares during the period. International Assets Investment Management LLC purchased a new position in Hovnanian Enterprises in the 2nd quarter worth approximately $156,000. Finally, Creative Planning bought a new position in Hovnanian Enterprises in the 3rd quarter worth approximately $202,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Price Performance

NYSE:HOV traded down $0.13 during trading hours on Wednesday, hitting $133.82. 60,520 shares of the stock traded hands, compared to its average volume of 76,872. The company has a market cap of $809.61 million, a price-to-earnings ratio of 4.17 and a beta of 2.62. Hovnanian Enterprises has a 1 year low of $125.63 and a 1 year high of $240.34. The stock has a 50 day moving average price of $168.05 and a 200 day moving average price of $180.44. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20.

Wall Street Analyst Weigh In

Separately, Wedbush reissued a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a report on Monday, December 16th.

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.