Tidal Investments LLC Has $862,000 Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Tidal Investments LLC lowered its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 10.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,014 shares of the construction company’s stock after selling 2,131 shares during the period. Tidal Investments LLC’s holdings in Tri Pointe Homes were worth $862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TPH. Raymond James & Associates boosted its position in Tri Pointe Homes by 19.2% during the third quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock valued at $9,450,000 after purchasing an additional 33,629 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Tri Pointe Homes by 10,048.1% during the 2nd quarter. Federated Hermes Inc. now owns 35,011 shares of the construction company’s stock valued at $1,304,000 after buying an additional 34,666 shares during the last quarter. Millennium Management LLC grew its stake in shares of Tri Pointe Homes by 14.1% in the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock valued at $34,475,000 after buying an additional 114,244 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Tri Pointe Homes by 404.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock worth $1,987,000 after buying an additional 35,162 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after acquiring an additional 1,024,425 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TPH. Wedbush restated a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Oppenheimer lowered their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada reduced 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. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a report on Tuesday, September 17th. Finally, StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Insiders Place Their Bets

In other 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 transaction of $3,029,583.60. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Tri Pointe Homes Trading Up 1.2 %

Shares of NYSE:TPH opened at $37.03 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The stock’s 50-day moving average is $41.89 and its 200-day moving average is $41.81. The company has a market cap of $3.47 billion, a P/E ratio of 7.68, a P/E/G ratio of 0.64 and a beta of 1.60. Tri Pointe Homes, Inc. has a 52-week low of $33.24 and a 52-week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its 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 firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 EPS. Equities research analysts predict that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

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

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.