Choreo LLC Sells 1,844 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Choreo LLC lessened its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,541 shares of the construction company’s stock after selling 1,844 shares during the quarter. Choreo LLC’s holdings in Tri Pointe Homes were worth $564,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP lifted its position in Tri Pointe Homes by 4.4% during the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock valued at $280,000 after purchasing an additional 258 shares during the period. Empowered Funds LLC raised its stake in shares of Tri Pointe Homes by 0.3% during the third quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock worth $4,501,000 after buying an additional 265 shares during the last quarter. Highland Capital Management LLC lifted its holdings in Tri Pointe Homes by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company’s stock valued at $212,000 after buying an additional 368 shares during the period. Park Avenue Securities LLC boosted its stake in Tri Pointe Homes by 7.4% in the fourth quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company’s stock valued at $232,000 after acquiring an additional 444 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in Tri Pointe Homes by 9.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company’s stock worth $284,000 after acquiring an additional 541 shares during the period. Institutional investors own 97.01% of the company’s stock.

Insider Transactions at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were 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 $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TPH. Wedbush reissued a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Royal Bank of Canada cut their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Oppenheimer lowered their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.75.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $35.90 on Wednesday. Tri Pointe Homes, Inc. has a 12 month low of $33.24 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 company has a market capitalization of $3.36 billion, a PE ratio of 7.45, a PEG ratio of 0.59 and a beta of 1.64. The stock’s fifty day simple moving average is $37.48 and its 200 day simple moving average is $41.18.

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

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.