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% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPH. Wealth Enhancement Advisory Services LLC bought a new stake in Tri Pointe Homes during the third quarter worth $226,000. Atria Investments Inc lifted its stake in Tri Pointe Homes by 30.0% during the third quarter. Atria Investments Inc now owns 15,839 shares of the construction company’s stock worth $718,000 after purchasing an additional 3,653 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Tri Pointe Homes by 132.8% during the third quarter. Los Angeles Capital Management LLC now owns 58,779 shares of the construction company’s stock worth $2,663,000 after purchasing an additional 33,528 shares during the last quarter. Entropy Technologies LP bought a new stake in Tri Pointe Homes during the third quarter worth $358,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Tri Pointe Homes by 4.4% during the third quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock worth $280,000 after buying an additional 258 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Tri Pointe Homes Stock Performance

NYSE TPH opened at $32.46 on Tuesday. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 6.72, a PEG ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78. The stock has a fifty day simple moving average of $35.00 and a 200 day simple moving average of $39.81. 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 (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Sell-side analysts expect that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has approved a share buyback plan on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 7.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Seaport Res Ptn upgraded shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Evercore ISI lowered their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Wedbush reiterated a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.60.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the sale, the chief operating officer now owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

About Tri Pointe Homes

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.