Martingale Asset Management L P Purchases New Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Martingale Asset Management L P purchased a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,174 shares of the construction company’s stock, valued at approximately $1,458,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPH. Gradient Investments LLC purchased a new position in Tri Pointe Homes in the second quarter valued at about $30,000. Reston Wealth Management LLC purchased a new position in Tri Pointe Homes in the third quarter valued at about $45,000. GAMMA Investing LLC boosted its holdings in Tri Pointe Homes by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock valued at $57,000 after purchasing an additional 588 shares during the last quarter. Blue Trust Inc. lifted its holdings in Tri Pointe Homes by 31.7% during the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after buying an additional 427 shares during the last quarter. Finally, CWM LLC lifted its holdings in Tri Pointe Homes by 70.8% during the 2nd quarter. CWM LLC now owns 2,220 shares of the construction company’s stock worth $83,000 after buying an additional 920 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Activity at Tri Pointe Homes

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

Tri Pointe Homes Stock Down 0.2 %

Shares of Tri Pointe Homes stock opened at $43.53 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The business’s 50 day simple moving average is $43.14 and its 200-day simple moving average is $41.70. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.71 and a beta of 1.60. Tri Pointe Homes, Inc. has a twelve month low of $28.74 and a twelve month high of $47.78.

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

Analysts Set New Price Targets

A number of research firms have commented on TPH. 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 report on Tuesday, September 17th. Oppenheimer reduced their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. Finally, Royal Bank of Canada reduced their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

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.