Assenagon Asset Management S.A. Sells 513,715 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Assenagon Asset Management S.A. trimmed its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 36.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 903,548 shares of the construction company's stock after selling 513,715 shares during the quarter. Assenagon Asset Management S.A. owned 0.97% of Tri Pointe Homes worth $32,763,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TPH. Reston Wealth Management LLC acquired a new stake in shares of Tri Pointe Homes during the 3rd quarter valued at approximately $45,000. Quarry LP grew its position in shares of Tri Pointe Homes by 123.3% in the second quarter. Quarry LP now owns 2,401 shares of the construction company's stock valued at $89,000 after purchasing an additional 1,326 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Tri Pointe Homes by 33.5% during the 3rd quarter. Blue Trust Inc. now owns 2,368 shares of the construction company's stock worth $107,000 after purchasing an additional 594 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Tri Pointe Homes by 75.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company's stock worth $121,000 after purchasing an additional 1,149 shares during the last quarter. Finally, CWM LLC raised its position in shares of Tri Pointe Homes by 39.3% during the 3rd quarter. CWM LLC now owns 3,092 shares of the construction company's stock worth $140,000 after purchasing an additional 872 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Tri Pointe Homes Price Performance

NYSE:TPH traded down $0.30 during trading hours on Friday, reaching $37.27. 661,421 shares of the company's stock were exchanged, compared to its average volume of 710,947. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $3.49 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.55 and a beta of 1.64. Tri Pointe Homes, Inc. has a 12 month low of $33.24 and a 12 month high of $47.78. The business's 50-day simple moving average is $39.32 and its two-hundred day simple moving average is $41.65.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm earned $0.76 earnings per share. The business's quarterly revenue was up 34.9% on a year-over-year basis. Sell-side analysts expect that Tri Pointe Homes, Inc. will post 4.72 EPS for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has authorized a stock 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 buy up to 7.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

TPH has been the topic of several research analyst reports. Royal Bank of Canada decreased their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Oppenheimer decreased their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Wedbush reaffirmed a "neutral" rating and set a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Finally, StockNews.com downgraded Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Three 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 data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of "Moderate Buy" and an average price target of $45.75.

Insiders Place Their Bets

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm's stock in a transaction that occurred 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 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 the SEC website. Corporate insiders own 2.50% of the company's stock.

Tri Pointe Homes Company 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.