On August 23, 2024, Joseph Marengi, a Director at Hovnanian Enterprises Inc (HOV, Financial), executed a sale of 4,962 shares of the company. The transaction was filed on the same day with the SEC. Following this transaction, the insider now owns 30,709 shares of Hovnanian Enterprises Inc.
Hovnanian Enterprises Inc, a notable player in the home construction industry, focuses on the design, construction, and marketing of residential housing in several states across the United States.
The shares were sold at a price of $232.95, valuing the transaction at approximately $1,155,726.90. This sale contributes to a total of 4,962 shares sold by the insider over the past year, with no recorded purchases in the same timeframe.
The company's market cap stands at approximately $1.39 billion, with the stock price of $232.95 reflecting a price-earnings ratio of 7.08. This ratio is below the industry median of 12.715, indicating a potentially lower valuation relative to peers.
According to the GF Value, the intrinsic value of Hovnanian Enterprises Inc is estimated at $91.50 per share, making the current price significantly overvalued with a price-to-GF-Value ratio of 2.55.
Over the past year, there have been no insider buys and 17 insider sells at Hovnanian Enterprises Inc, suggesting a trend where insiders are choosing to sell shares rather than purchase more.
This insider activity and the current valuation metrics provide investors with data points to consider when evaluating their investment in Hovnanian Enterprises Inc.
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