Weiss Asset Management LP Acquires Shares of 354,579 Tri Pointe Homes, Inc. (NYSE:TPH)

Weiss Asset Management LP acquired a new stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) in the 3rd quarter, HoldingsChannel reports. The fund acquired 354,579 shares of the construction company’s stock, valued at approximately $16,066,000.

A number of other institutional investors also recently modified their holdings of the company. Gradient Investments LLC bought a new stake in Tri Pointe Homes in the second quarter valued at $30,000. Reston Wealth Management LLC bought a new stake in shares of Tri Pointe Homes during the 3rd quarter valued at about $45,000. GAMMA Investing LLC increased its position in shares of Tri Pointe Homes by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock valued at $57,000 after buying an additional 588 shares during the period. Blue Trust Inc. raised its stake in Tri Pointe Homes by 31.7% in the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after buying an additional 427 shares in the last quarter. Finally, CWM LLC lifted its holdings in Tri Pointe Homes by 70.8% in the second 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 period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tri Pointe Homes

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

Tri Pointe Homes Stock Performance

Tri Pointe Homes stock opened at $41.54 on Friday. Tri Pointe Homes, Inc. has a twelve month low of $30.27 and a twelve month high of $47.78. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $3.89 billion, a P/E ratio of 8.62, a PEG ratio of 0.71 and a beta of 1.60. The stock’s 50 day moving average is $42.99 and its 200 day moving average is $41.75.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TPH. 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 restated a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Royal Bank of Canada decreased their price objective on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a research report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

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.