Magnetar Financial LLC Has $359,000 Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Magnetar Financial LLC increased its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 36.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,894 shares of the construction company’s stock after purchasing an additional 2,621 shares during the quarter. Magnetar Financial LLC’s holdings in Tri Pointe Homes were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP grew its position in Tri Pointe Homes by 4.4% during the third quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock worth $280,000 after buying an additional 258 shares in the last quarter. Assetmark Inc. lifted its stake in Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after purchasing an additional 300 shares during the period. Highland Capital Management LLC lifted its stake in Tri Pointe Homes by 6.7% during the fourth quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company’s stock worth $212,000 after purchasing an additional 368 shares during the period. Park Avenue Securities LLC lifted its stake in Tri Pointe Homes by 7.4% during the fourth quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company’s stock worth $232,000 after purchasing an additional 444 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in Tri Pointe Homes by 2.1% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 26,595 shares of the construction company’s stock worth $964,000 after purchasing an additional 553 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

TPH stock opened at $31.37 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. The company has a 50 day moving average price of $34.29 and a 200 day moving average price of $39.03. Tri Pointe Homes, Inc. has a fifty-two week low of $30.25 and a fifty-two week high of $47.78. The stock has a market capitalization of $2.88 billion, a PE ratio of 6.49, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Analysts forecast that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes declared that its board has authorized a stock repurchase program on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Oppenheimer cut their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Finally, Seaport Res Ptn upgraded shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Four equities research 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 company’s stock. According to data from MarketBeat.com, Tri Pointe Homes has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Tri Pointe Homes 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.