Highland Capital Management LLC Invests $248,000 in Tri Pointe Homes, Inc. (NYSE:TPH)

Highland Capital Management LLC bought a new position in Tri Pointe Homes, Inc. (NYSE:TPH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,484 shares of the construction company’s stock, valued at approximately $248,000.

Several other hedge funds also recently made changes to their positions in TPH. Fidelis Capital Partners LLC acquired a new position in shares of Tri Pointe Homes in the 1st quarter worth approximately $25,000. Gradient Investments LLC acquired a new position in shares of Tri Pointe Homes in the 2nd quarter worth approximately $30,000. GAMMA Investing LLC lifted its holdings in shares of Tri Pointe Homes by 63.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock worth $57,000 after purchasing an additional 588 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Tri Pointe Homes by 31.7% in the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after purchasing an additional 427 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Tri Pointe Homes by 70.8% in the 2nd quarter. CWM LLC now owns 2,220 shares of the construction company’s stock worth $83,000 after purchasing an additional 920 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Insider Transactions at Tri Pointe Homes

In other news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction 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 owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Down 1.1 %

Shares of Tri Pointe Homes stock opened at $40.28 on Monday. The business’s fifty day moving average price is $43.98 and its two-hundred day moving average price is $40.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $3.82 billion, a P/E ratio of 10.74, a PEG ratio of 0.70 and a beta of 1.59. Tri Pointe Homes, Inc. has a 1-year low of $24.18 and a 1-year 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 $1.02 by $0.16. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. As a group, research analysts forecast that Tri Pointe Homes, Inc. will post 4.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TPH shares. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a report on Tuesday, September 17th. Oppenheimer cut their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday. Wedbush reissued a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday. Finally, Royal Bank of Canada cut their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average 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.