Victory Capital Management Inc. Has $698,000 Stock Position in Hovnanian Enterprises, Inc. (NYSE:HOV)

Victory Capital Management Inc. trimmed its position in Hovnanian Enterprises, Inc. (NYSE:HOV) by 76.2% during the third quarter, Holdings Channel reports. The firm owned 3,414 shares of the construction company’s stock after selling 10,920 shares during the quarter. Victory Capital Management Inc.’s holdings in Hovnanian Enterprises were worth $698,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Hovnanian Enterprises in the third quarter valued at about $33,000. Innealta Capital LLC bought a new position in shares of Hovnanian Enterprises in the second quarter worth about $37,000. CWM LLC lifted its stake in 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 purchasing an additional 354 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Hovnanian Enterprises in the 2nd quarter valued at $156,000. Finally, Creative Planning bought a new position in Hovnanian Enterprises in the third quarter valued at about $202,000. Institutional investors own 65.40% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Robin Stone Sellers sold 531 shares of Hovnanian Enterprises stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $205.75, for a total transaction of $109,253.25. Following the completion of the transaction, the director now directly owns 21,033 shares in the company, valued at $4,327,539.75. This trade represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ara K. Hovnanian sold 13,552 shares of Hovnanian Enterprises stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $215.14, for a total value of $2,915,577.28. Following the transaction, the chief executive officer now owns 47,279 shares of the company’s stock, valued at $10,171,604.06. This trade represents a 22.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,289 shares of company stock worth $5,158,796. 17.67% of the stock is owned by corporate insiders.

Hovnanian Enterprises Price Performance

HOV stock opened at $190.52 on Friday. Hovnanian Enterprises, Inc. has a 12-month low of $86.61 and a 12-month high of $240.34. 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 company’s fifty day simple moving average is $189.21 and its 200 day simple moving average is $179.84. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 5.89 and a beta of 2.60.

Hovnanian Enterprises 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.