Smartleaf Asset Management LLC Purchases 613 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Smartleaf Asset Management LLC increased its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 84.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,339 shares of the construction company’s stock after acquiring an additional 613 shares during the period. Smartleaf Asset Management LLC’s holdings in Tri Pointe Homes were worth $49,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. acquired a new position in shares of Tri Pointe Homes in the fourth quarter valued at approximately $118,407,000. Weiss Asset Management LP bought a new stake in Tri Pointe Homes during the 3rd quarter worth approximately $16,066,000. Bridgewater Associates LP increased its position in Tri Pointe Homes by 476.3% in the 3rd quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company’s stock valued at $7,917,000 after acquiring an additional 144,403 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Tri Pointe Homes by 703.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,853 shares of the construction company’s stock valued at $7,198,000 after acquiring an additional 139,079 shares during the period. Finally, Quantbot Technologies LP raised its stake in shares of Tri Pointe Homes by 562.0% during the third quarter. Quantbot Technologies LP now owns 147,238 shares of the construction company’s stock valued at $6,671,000 after acquiring an additional 124,998 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $32.46 on Tuesday. The firm has a market capitalization of $2.98 billion, a PE ratio of 6.72, a P/E/G ratio of 0.67 and a beta of 1.71. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $35.00 and a two-hundred day moving average price of $39.81. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78.

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

Tri Pointe Homes declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the transaction, the chief operating officer now owns 708,159 shares of the company’s stock, valued at $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on TPH shares. Oppenheimer cut their target price on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Wedbush reissued a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Finally, Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tri Pointe Homes currently has an average 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.