Hovnanian (HOV) Trades Lower as CEO Dumps a Slug of Stock
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Shares of Hovnanian (NYSE: HOV) are seen lower early on Tuesday after the company's Chairman and CEO Ara Hovnanian disclosed the recent sale of 350,764 shares.
According to an SEC filing late Friday, the transaction took place on December 19th at an average of $5.941 per share and fetched CEO $2,083,888. The Chairman still owns 10,913,629 shares after the transaction.
This is Hovnanian first sale in the stock since 2008 and comes amid a 383% YTD rally in the stock.
According to an SEC filing late Friday, the transaction took place on December 19th at an average of $5.941 per share and fetched CEO $2,083,888. The Chairman still owns 10,913,629 shares after the transaction.
This is Hovnanian first sale in the stock since 2008 and comes amid a 383% YTD rally in the stock.
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