Hovnanian Enterprises (NYSE:HOV) Sets New 12-Month Low – Should You Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV) shares hit a new 52-week low on Friday . The company traded as low as $125.38 and last traded at $128.04, with a volume of 91754 shares trading hands. The stock had previously closed at $133.82.

Wall Street Analysts Forecast Growth

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

Hovnanian Enterprises Stock Down 4.3 %

The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a market cap of $774.64 million, a P/E ratio of 3.99 and a beta of 2.62. The company’s 50 day moving average price is $166.29 and its two-hundred day moving average price is $179.75.

Insiders Place Their Bets

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

Institutional Trading of Hovnanian Enterprises

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