ClearAlpha Technologies LP Reduces Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

ClearAlpha Technologies LP cut its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 15.3% during the third quarter, Holdings Channel.com reports. The firm owned 14,182 shares of the construction company’s stock after selling 2,552 shares during the quarter. ClearAlpha Technologies LP’s holdings in Tri Pointe Homes were worth $643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Tri Pointe Homes by 260.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after buying an additional 1,024,425 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Tri Pointe Homes by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company’s stock valued at $52,816,000 after purchasing an additional 115,099 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Tri Pointe Homes by 14.1% during the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after purchasing an additional 114,244 shares during the period. Bank of New York Mellon Corp increased its position in shares of Tri Pointe Homes by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock worth $34,135,000 after purchasing an additional 31,041 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Tri Pointe Homes by 0.8% in the 3rd quarter. Fisher Asset Management LLC now owns 725,537 shares of the construction company’s stock valued at $32,874,000 after buying an additional 6,079 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on TPH shares. Oppenheimer lowered their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a research report on Tuesday, September 17th. Royal Bank of Canada lowered their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Wedbush reiterated a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $43.53 on Monday. The firm has a 50 day moving average of $43.14 and a two-hundred day moving average of $41.70. The stock has a market capitalization of $4.07 billion, a PE ratio of 9.03, a P/E/G ratio of 0.71 and a beta of 1.60. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a 52 week low of $28.74 and a 52 week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. On average, research analysts predict that Tri Pointe Homes, Inc. will post 4.72 EPS for the current fiscal year.

Insider Buying and Selling at Tri Pointe Homes

In other news, General Counsel David Ch Lee sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the sale, the general counsel now owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

Tri Pointe Homes 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.