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

Hovnanian Enterprises, Inc. (NYSE:HOV) was the recipient of a significant increase in short interest in 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. Approximately 5.5% of the shares of the company are short sold. Based on an average daily trading volume, of 75,100 shares, the days-to-cover ratio is currently 3.2 days.

Hovnanian Enterprises Price Performance

Shares of HOV traded down $2.03 during trading hours on Monday, reaching $165.91. 41,589 shares of the company’s stock traded hands, compared to its average volume of 79,487. Hovnanian Enterprises has a 12 month low of $86.61 and a 12 month high of $240.34. 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 $1.00 billion, a PE ratio of 5.13 and a beta of 2.60. The firm’s 50 day simple moving average is $192.79 and its 200-day simple moving average is $178.96.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Thursday, August 22nd. The construction company reported $9.75 EPS for the quarter. The firm had revenue of $722.70 million for the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. During the same period in the previous year, the company earned $7.38 EPS. Equities analysts expect that Hovnanian Enterprises will post 30 EPS for the current year.

Insider Buying and Selling at Hovnanian Enterprises

In related news, CEO Ara K. Hovnanian sold 644 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $223.11, for a total value of $143,682.84. Following the completion of the transaction, the chief executive officer now directly owns 60,831 shares of the company’s stock, valued at approximately $13,572,004.41. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward A. Kangas sold 4,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $232.21, for a total transaction of $928,840.00. Following the sale, the director now directly owns 14,790 shares in the company, valued at $3,434,385.90. The trade was a 21.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,057 shares of company stock worth $12,824,040 over the last ninety days. 17.67% of the stock is currently owned by company insiders.

Institutional Trading of Hovnanian Enterprises

A number of hedge funds have recently bought and sold shares of HOV. Allspring Global Investments Holdings LLC purchased a new position in shares of Hovnanian Enterprises during the third quarter worth approximately $33,000. Innealta Capital LLC bought a new position in shares of Hovnanian Enterprises during the second quarter valued at about $37,000. FMR LLC increased its holdings in shares of Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after buying an additional 59 shares during the period. EntryPoint Capital LLC boosted its holdings in Hovnanian Enterprises by 309.9% during the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after acquiring an additional 626 shares during the period. Finally, CWM LLC grew its position in Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after acquiring an additional 354 shares during the last quarter. 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 report 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.