AlphaQuest LLC Has $969,000 Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

AlphaQuest LLC trimmed its position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 44.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,725 shares of the construction company's stock after selling 21,020 shares during the quarter. AlphaQuest LLC's holdings in Tri Pointe Homes were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP raised its position in Tri Pointe Homes by 4.4% in the third 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 last quarter. Empowered Funds LLC increased its stake in shares of Tri Pointe Homes by 0.3% in the third quarter. Empowered Funds LLC now owns 99,346 shares of the construction company's stock valued at $4,501,000 after buying an additional 265 shares during the period. Assetmark Inc. raised its holdings in Tri Pointe Homes by 19.6% in the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock valued at $66,000 after buying an additional 300 shares during the last quarter. Highland Capital Management LLC raised its holdings in Tri Pointe Homes by 6.7% in the 4th 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 last quarter. Finally, Park Avenue Securities LLC boosted its position in Tri Pointe Homes by 7.4% during the 4th quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company's stock worth $232,000 after buying an additional 444 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other Tri Pointe Homes 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 value of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TPH has been the subject of several analyst reports. Evercore ISI dropped their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. StockNews.com lowered Tri Pointe Homes from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Seaport Res Ptn raised Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Royal Bank of Canada cut Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Finally, Oppenheimer cut their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $40.60.

Tri Pointe Homes Trading Down 2.1 %

Shares of TPH stock traded down $0.65 during mid-day trading on Thursday, hitting $31.14. The company's stock had a trading volume of 933,116 shares, compared to its average volume of 912,063. The company has a market cap of $2.86 billion, a PE ratio of 6.45, a P/E/G ratio of 0.67 and a beta of 1.71. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The company's fifty day simple moving average is $34.74 and its 200-day simple moving average is $39.60. Tri Pointe Homes, Inc. has a 52 week low of $30.25 and a 52 week high of $47.78.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. As a group, equities research analysts expect that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

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.