OFI Invest Asset Management Buys Shares of 36,000 Tri Pointe Homes, Inc. (NYSE:TPH)

OFI Invest Asset Management bought a new stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,000 shares of the construction company's stock, valued at approximately $1,261,000.

A number of other large investors have also recently added to or reduced their stakes in TPH. GSA Capital Partners LLP increased its holdings in shares of 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 buying an additional 258 shares in the last quarter. Empowered Funds LLC raised its position 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 purchasing an additional 265 shares during the period. Assetmark Inc. lifted its holdings in shares of Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock valued at $66,000 after purchasing an additional 300 shares during the last quarter. Highland Capital Management LLC lifted its holdings in shares of Tri Pointe Homes by 6.7% during the fourth quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company's stock valued at $212,000 after purchasing an additional 368 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Tri Pointe Homes by 7.4% in the 4th quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company's stock valued at $232,000 after purchasing an additional 444 shares during the period. 97.01% of the stock is currently owned by institutional investors.

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Tri Pointe Homes Stock Down 2.1 %

Shares of Tri Pointe Homes stock traded down $0.65 on Thursday, hitting $31.14. 933,116 shares of the company traded hands, compared to its average volume of 912,056. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78. 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 market cap of $2.86 billion, a PE ratio of 6.45, a PEG ratio of 0.67 and a beta of 1.71. The company has a 50-day moving average price of $34.84 and a 200 day moving average price of $39.66.

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 the consensus estimate 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%. Sell-side analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wedbush reiterated a "neutral" rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. StockNews.com downgraded shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Oppenheimer decreased their target price on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Seaport Res Ptn raised Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Finally, Evercore ISI reduced their price objective on 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. Four equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.60.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company'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 represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by corporate 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.