Y Intercept Hong Kong Ltd Raises Holdings in Tri Pointe Homes Inc. $TPH

Y Intercept Hong Kong Ltd raised its stake in Tri Pointe Homes Inc. (NYSE:TPH) by 260.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,355 shares of the construction company’s stock after buying an additional 64,544 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.10% of Tri Pointe Homes worth $2,855,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TPH. Smartleaf Asset Management LLC grew its holdings in shares of Tri Pointe Homes by 56.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company’s stock worth $67,000 after purchasing an additional 757 shares during the period. GAMMA Investing LLC raised its position in Tri Pointe Homes by 19.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,377 shares of the construction company’s stock valued at $76,000 after purchasing an additional 389 shares in the last quarter. Blue Trust Inc. raised its position in Tri Pointe Homes by 16.6% in the 2nd quarter. Blue Trust Inc. now owns 2,982 shares of the construction company’s stock valued at $95,000 after purchasing an additional 424 shares in the last quarter. CWM LLC raised its position in Tri Pointe Homes by 67.8% in the 1st quarter. CWM LLC now owns 3,797 shares of the construction company’s stock valued at $121,000 after purchasing an additional 1,534 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Tri Pointe Homes by 327.8% during the 1st quarter. Covestor Ltd now owns 3,884 shares of the construction company’s stock worth $124,000 after acquiring an additional 2,976 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Tri Pointe Homes Trading Up 0.0%

NYSE:TPH opened at $31.87 on Friday. The stock has a fifty day moving average price of $33.95 and a two-hundred day moving average price of $32.51. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.83 and a beta of 1.30. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.01 and a current ratio of 2.01. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $45.28.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, October 23rd. The construction company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.20. The company had revenue of $836.87 million for the quarter, compared to the consensus estimate of $782.22 million. Tri Pointe Homes had a return on equity of 9.79% and a net margin of 8.44%.Tri Pointe Homes’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.18 earnings per share. As a group, sell-side analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has approved a share buyback program on Thursday, July 24th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $43.00 target price on shares of Tri Pointe Homes in a research report on Friday, July 25th. Wolfe Research downgraded Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Evercore ISI reiterated an “in-line” rating and issued a $34.00 target price (down from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a research note on Thursday. Finally, Wall Street Zen upgraded Tri Pointe Homes from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Moderate Buy” and a consensus price target of $39.25.

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.