EMC Capital Management Sells 6,973 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

EMC Capital Management reduced its holdings in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 34.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,373 shares of the construction company's stock after selling 6,973 shares during the quarter. EMC Capital Management's holdings in Tri Pointe Homes were worth $485,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in shares of Tri Pointe Homes during the fourth quarter valued at $118,407,000. Assenagon Asset Management S.A. increased its holdings in shares of Tri Pointe Homes by 260.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company's stock valued at $64,216,000 after acquiring an additional 1,024,425 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Tri Pointe Homes during the third quarter worth about $16,066,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Tri Pointe Homes during the second quarter worth about $9,599,000. Finally, Bridgewater Associates LP boosted its position in Tri Pointe Homes by 476.3% during the 3rd quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company's stock worth $7,917,000 after acquiring an additional 144,403 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Tri Pointe Homes Price Performance

Shares of Tri Pointe Homes stock traded down $0.96 during midday trading on Monday, hitting $35.90. 408,644 shares of the company traded hands, compared to its average volume of 663,396. The firm's fifty day moving average price is $38.41 and its 200-day moving average price is $41.58. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 0.59 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 company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64.

Tri Pointe Homes declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank of Canada decreased their target price on Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. StockNews.com cut Tri Pointe Homes from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Wedbush reaffirmed a "neutral" rating and set a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, October 24th. Finally, Oppenheimer dropped their price target on shares of 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 equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tri Pointe Homes currently has an average rating of "Moderate Buy" and an average target price of $45.75.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the business'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 owns 708,159 shares of the company's stock, valued at $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.50% of the stock is currently owned by company insiders.

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.