AlphaQuest LLC Sells 21,020 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

AlphaQuest LLC cut its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 44.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,725 shares of the construction company’s stock after selling 21,020 shares during the period. AlphaQuest LLC’s holdings in Tri Pointe Homes were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Tri Pointe Homes by 3.2% during the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock worth $112,644,000 after acquiring an additional 76,830 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Tri Pointe Homes by 3.5% in the 4th quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock valued at $17,626,000 after purchasing an additional 16,380 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Tri Pointe Homes by 404.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock valued at $1,987,000 after purchasing an additional 35,162 shares during the period. GW&K Investment Management LLC raised its stake in shares of Tri Pointe Homes by 5.3% in the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock valued at $73,850,000 after purchasing an additional 102,187 shares during the period. Finally, New York State Teachers Retirement System raised its stake in shares of Tri Pointe Homes by 15.3% in the 4th quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company’s stock valued at $2,448,000 after purchasing an additional 8,948 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Tri Pointe Homes Price Performance

Shares of NYSE TPH opened at $32.46 on Tuesday. The business’s 50 day moving average price is $35.00 and its two-hundred day moving average price is $39.81. The company has a market cap of $2.98 billion, a PE ratio of 6.72, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. On average, analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on TPH shares. Evercore ISI dropped their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Oppenheimer dropped their price target on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.