Hovnanian Enterprises soars 16% after chairman buys 220,000 shares
Hovnanian Enterprises Inc. (NYSE:HOV) shares are up more than 16% today on news the company’s chairman bought 220,000 shares of common stock. In a Securities and Exchange Commission filing Monday, Kevork Hovnanian, chairman of the board, disclosed that he purchased them on July 3. Shares of the Red Bank, N.J.-based homebuilder are trading at $5.42 at 2:22 ET, up $0.78 from Monday’s close.
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