Hovnanian Enterprises, Inc. (NYSE:HOV) Short Interest Update

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

Hovnanian Enterprises Stock Performance

NYSE:HOV traded down $0.98 during mid-day trading on Tuesday, hitting $164.93. The company’s stock had a trading volume of 6,155 shares, compared to its average volume of 79,159. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. The business’s fifty day moving average is $192.79 and its two-hundred day moving average is $178.96. Hovnanian Enterprises has a 1 year low of $86.61 and a 1 year high of $240.34. The stock has a market cap of $997.83 million, a price-to-earnings ratio of 5.13 and a beta of 2.60.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings data on Thursday, August 22nd. The construction company reported $9.75 earnings per share for the quarter. The company had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. During the same quarter in the prior year, the company posted $7.38 earnings per share. Analysts anticipate that Hovnanian Enterprises will post 30 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Edward A. Kangas sold 1,500 shares of Hovnanian Enterprises stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ara K. Hovnanian sold 644 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $223.11, for a total transaction of $143,682.84. Following the sale, the chief executive officer now directly owns 60,831 shares in the company, valued at approximately $13,572,004.41. This represents a 1.05 % 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 in the last ninety days. 17.67% of the stock is owned by insiders.

Institutional Trading of Hovnanian Enterprises

A number of hedge funds have recently bought and sold shares of HOV. Allspring Global Investments Holdings LLC acquired a new stake in shares of Hovnanian Enterprises in the third quarter valued at approximately $33,000. Innealta Capital LLC purchased a new position in shares of Hovnanian Enterprises during the 2nd quarter worth $37,000. FMR LLC boosted its position in shares of 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 acquiring an additional 59 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of Hovnanian Enterprises by 309.9% in the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after purchasing an additional 626 shares during the period. Finally, CWM LLC increased its position in Hovnanian Enterprises by 89.6% during the third quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after purchasing an additional 354 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

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.