Point72 Asia Singapore Pte. Ltd. Acquires 5,656 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 117.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 10,488 shares of the construction company’s stock after purchasing an additional 5,656 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Tri Pointe Homes were worth $475,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Raymond James & Associates raised its position in Tri Pointe Homes by 19.2% during the 3rd quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock worth $9,450,000 after purchasing an additional 33,629 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Tri Pointe Homes by 3,110.4% in the second quarter. SG Americas Securities LLC now owns 107,710 shares of the construction company’s stock worth $4,012,000 after acquiring an additional 104,355 shares during the period. Federated Hermes Inc. lifted its stake in shares of Tri Pointe Homes by 10,048.1% in the second quarter. Federated Hermes Inc. now owns 35,011 shares of the construction company’s stock worth $1,304,000 after acquiring an additional 34,666 shares during the period. Millennium Management LLC boosted its holdings in Tri Pointe Homes by 14.1% in the second quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock valued at $34,475,000 after acquiring an additional 114,244 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in 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 purchasing an additional 1,024,425 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

TPH has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a research report on Tuesday, September 17th. Wedbush reissued a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Finally, Oppenheimer dropped their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

Tri Pointe Homes Trading Down 0.0 %

NYSE:TPH opened at $43.51 on Tuesday. Tri Pointe Homes, Inc. has a 12 month low of $29.83 and a 12 month high of $47.78. 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 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. The firm has a fifty day simple moving average of $43.11 and a two-hundred day simple moving average of $41.72.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted $0.76 EPS. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. Analysts expect that Tri Pointe Homes, Inc. will post 4.72 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

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.