Short Interest in Hovnanian Enterprises, Inc. (NYSE:HOV) Drops By 11.1%

Hovnanian Enterprises, Inc. (NYSE:HOV) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 215,300 shares, a drop of 11.1% from the October 31st total of 242,300 shares. Based on an average daily trading volume, of 71,700 shares, the days-to-cover ratio is presently 3.0 days. Approximately 4.9% of the company’s shares are short sold.

Hovnanian Enterprises Stock Up 3.2 %

NYSE:HOV traded up $6.09 during trading hours on Friday, reaching $196.61. 36,649 shares of the stock were exchanged, compared to its average volume of 66,409. The stock has a market cap of $1.19 billion, a PE ratio of 6.07 and a beta of 2.60. Hovnanian Enterprises has a twelve month low of $87.78 and a twelve month high of $240.34. The firm has a 50 day moving average of $188.17 and a 200 day moving average of $180.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27.

Insider Buying and Selling

In related news, CEO Ara K. Hovnanian sold 123 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $220.13, for a total transaction of $27,075.99. Following the completion of the sale, the chief executive officer now directly owns 47,156 shares of the company’s stock, valued at approximately $10,380,450.28. This represents a 0.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $283,290.00. Following the completion of the transaction, the director now directly owns 13,290 shares in the company, 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. In the last quarter, insiders have sold 24,289 shares of company stock valued at $5,158,796. 17.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in Hovnanian Enterprises in the 3rd quarter valued at $33,000. Innealta Capital LLC acquired a new stake in shares of Hovnanian Enterprises in the second quarter valued at about $37,000. FMR LLC increased 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 during the last quarter. CWM LLC raised its holdings 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 acquiring an additional 354 shares in the last quarter. Finally, Creative Planning acquired a new position in Hovnanian Enterprises during the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.